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Chevron To Send $2.5 Billion In 2017 To Permian, Duvernay, Vaca Muerta

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   |    Thursday,December 08,2016

Chevron Corporation announced a $19.8 billion capital and exploratory investment program for 2017. Included in the 2017 program are $4.7 billion of planned affiliate expenditures.

The Permian (Midland and Delware basins) where the company is testing the Wolfcamp and Bonespring formations will see the majority of the earnmarked $2.5 billion, which the company said it plans to spend on "shale and tight investments".  The company has a active exploration program in the Argentina's Vaca Muerta.

2017 Capital and Exploratory Spending Program:

Chevron Capital Expenditures ($ Billion)
2017   2016   2015
           
US Upstream 5.7 6% 5.4 -34% 8.2
International Upstream 11.6 -38% 18.6 -21% 23.4
Total Upstream 17.3 -28% 24 -24% 31.6
US Downstream 1.6   1.6   2
International Downstream 0.6   0.6   0.8
Total Downstream 2.2 0% 2.2 -21% 2.8
Other 0.3   0.4   0.6
Total 19.8 -26% 26.6 -24% 35

 

Onshore US Drilling Program(2016 & 2017)

Here is a quick look at Chevron's current onshore drilling program.

A quick look in our rig database shows the company steadily increase its permian basin rigs in Midland County (Midland Basin ) and Culberson in Delaware Basin where the company is jointly developing its acreage with Cimarex.


click to enlarge

 



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