MAAT INDEX

CLAIM #19137 · CVX (CVX) · 2024Q3 earnings call · Nov 1, 2024 · due Dec 31, 2029

That is a project that would be completed towards the end of this decade.

Michael Wirth · CEO

PENDING
graded after results covering Dec 31, 2029 are reported

How to check this claim

Look at: Completion status of the larger Leviathan expansion project (additional processing capacity)

It came true if: Project declared mechanically complete/online by December 31, 2029

Where: Company press releases / management commentary on quarterly earnings calls regarding Leviathan expansion status

In context

current expansion projects at both Tamar and Leviathan as, you know, the contractor concluded that, you know, the current risk environment was one that, you know, they were not comfortable with. We see both of those projects still being completed late next year. We will keep you advised, you know, obviously, this will depend on when that is remobilized. But we have got projects underway in the short term at both Leviathan to increase production, you know, by about 200 million cubic feet a day to 1.4 BCF. And Tamar is about half a billion cubic feet per day from 1.1 to 1.6. So those are on track for late next year. We have entered feed for a larger expansion at Leviathan that would take us up, you know, significantly more. There is some room on the platform to add more processing capacity. That is a project that would be completed towards the end of this decade. And we are in feed on that now. So more to follow. I think in the short term, obviously, you know, we are going to make sure people are safe. We have had to actually take production at Leviathan down a couple of times because of some of the risks in the region. But we are meeting all of our supply commitments both in the country and to regional customers. And I have been able to do that despite, you know, the conflict that is underway. Operator: And our last question comes from Alastair Syme with Citi. Alastair Syme: Hi, Mike. You talked earlier about the operated Permian position. I just wanted to get a sense of what you are seeing in the non-op and royalty piece. You know, are we seeing a two-speed operating system in the basin with respect to what various operators are doing? Thank you

Verify independently

SEC filings for CVX · Claim quote is verbatim from the 2024Q3 earnings call.