CLAIM #19127 · CVX (CVX) · 2024Q3 earnings call · Nov 1, 2024 · due Dec 31, 2029
“400,000 barrels a day out through the end of the decade.”
Michael Wirth · CEO
How to check this claim
Look at: DJ Basin production, barrels per day (oil or total, as company reports)
It came true if: DJ Basin production >= 400,000 barrels per day sustained through end of decade (by 2029)
Where: Company-disclosed segment/basin production figures (10-K, investor presentations, or earnings calls)
In context
“talked a little bit about the lower carbon footprint there. We have seen some other things like gas lift and new laterals that have been used. Some of these companies that we are starting to work with in some of our other parts of our portfolio. And the last thing I will say is the team there does a wonderful job of balancing the multi-step permitting process, and I know there has been some concern expressed by people about the regulatory environments. You know, we are working very closely with the regulator in Colorado to ensure that we can achieve their objectives and that we can achieve our objectives. And I would say that is a very constructive relationship. We have got comprehensive area plans in place that derisk the longer-term development. And the quality of the assets, you know, 400,000 barrels a day out through the end of the decade. You know, three years ago, we had zero in the DJ Basin. And so very pleased with it. We are big there. We are the biggest operator there. The question was, are you going to acquire some additional positions there? I would not say that is high on the priority list. The real key is to drive value out of this asset. Operator: And the next question will come from Betty Jing with Barclays. Betty Jing: I was on mute. I am sorry. Good morning. Thank you for taking my question. So I want to ask about the Gulf of Mexico. It feels like there is a bit of a technology renaissance that is happening in the Gulf, including the Anchor project that just came online. Can you talk about how the technology is opening up new resource opportunities for the Gulf for the Chevron portfolio, and does that represen”
Verify independently
SEC filings for CVX ↗ · Claim quote is verbatim from the 2024Q3 earnings call.