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Chevron Tags $3.1B in Q4 Earnings; Touts Jump in Proved Reserves at 1.54 BBOE
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Chevron reported its Q4 2017 and full year results.
Highlights: Q4 2017 earnings of $3.1 billion ($1.64 per share – diluted), compared with $415 million ($0.22 per share – diluted) in the 2016 fourth quarter - up over 600% YOY Worldwide net oil-equivalent production was 2.74 million barrels per day in fourth quarter 2017, compared with 2.67 million barrels per day from a year ago - a slight increase YOY Added approximately 1.54 billion barrels of net oil-equivalent proved reserves in 2017. These additions, which are subject to final reviews, equate to approximately 155 percent of net oil-equivalent production for the year. The largest additions were from the Permian Basin in the United States and the Gorgon Project in Australia.CEO Michael Wirth commented: “Earnings and cash…
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