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CLAIM #19089 · CVX (CVX) · 2024Q2 earnings call · Aug 2, 2024 · due Dec 31, 2027

we’ve got projects coming on in numerous basins in the world and in our chemicals business as well.

Michael Wirth · CEO

PENDING
graded after results covering Dec 31, 2027 are reported

How to check this claim

Look at: Free cash flow growth rate (absent the pending acquisition), cumulative over the multi-year period referenced

It came true if: Cumulative free cash flow growth >= 10% by end of 2027 versus the stated baseline period

Where: Company-disclosed free cash flow figures (quarterly earnings releases / 10-K and management commentary on growth targets)

In context

f you wanted to. This is the transaction, that’s the right transaction for us. And so, we’re very focused on it, Alastair, and we’ve made good progress with the shareholder vote, we’re steadily marching along with the FTC, and I’ve already mentioned the timeline on the arbitration. So, it’s sometimes good things you have to work for and this will take a little bit more time than we had anticipated, but we remain confident in the outcome. And, as I tried to cover in our prepared remarks, we’ve got a really strong queue of organic growth opportunities in flight right now. We didn’t mention the Eastern Med, which is another one. So, we’ve got projects in multiple regions of the world that are poised to deliver growth over the next three years, absent it we be at 10% growth in free cash flow, we’ve got projects coming on in numerous basins in the world and in our chemicals business as well. So, we’re really focused on that and creating value there. But, if another opportunity were to present itself that were compelling, we’re certainly in a position to consider it. Thanks for the question. Operator: And, the next question will come from Paul Cheng with Scotiabank. Paul Cheng: Thank you. Mike, can you talk about the potential for further cost efficiency gain? Where that you see over the next, say, two or three years the biggest opportunity? And, could you quantify that? I mean, how big is that opportunity set for you guys? Thank you. Michael K. Wirth: Yes. Thanks, Paul. I appreciate it. You and I have known each other for a long time. So, you know that capital discipline and cost discipline are near and dear to my heart and they always matter in a commodity business. Year-to-

Verify independently

SEC filings for CVX · Claim quote is verbatim from the 2024Q2 earnings call.