Skip to main content 3Q 2019 Earnings Presentation – Chevron Corp | Shale Experts
Loading...
Pm

3Q 2019 Earnings Presentation – Chevron Corp

Chevron Corp · Nov 1, 2019 · 22 slides

Investor presentation from the Shale Experts oil & gas presentation and slide database. Every page is imaged and its text indexed for search across operators, plays, basins and time.

Slides

  1. 3Q 2019 Earnings Presentation – Chevron Corp – slide 1
    Third quarter 2019 earnings conference call and webcast Jay Johnson Executive Vice President, Upstream Pierre Breber Vice President and Chief Financial Officer Wayne Borduin General Manager, Investor Relations November 1,…
  2. 3Q 2019 Earnings Presentation – Chevron Corp – slide 2
    Financial highlights 3Q19 Earnings 2.6 billion Earnings per diluted share 1.36 Earnings / EPS (excluding special items and FX)1 2.9 billion / 1.55 Cash flow from operations / excl. working capital1 7.8 billion / 6.4 billion…
  3. 3Q 2019 Earnings Presentation – Chevron Corp – slide 3
    Delivering on all four financial priorities billions 2 Working Cash Four financial priorities CFFO capital capex ex WC 1 Maintain and grow dividend 1.1 Fund capital program 2 3 Strong balance sheet 4 Return surplus cash 3 Debt…
  4. 3Q 2019 Earnings Presentation – Chevron Corp – slide 4
    Chevron earnings 3Q19 vs. 3Q18 millions Upstream Downstream Other Special items* FX* Realizations 125 150 Opex/ Liftings Other volume Timing/ Chemicals Other -11 other -1,775 90 -180 -45 -3 182 4,047 2,580 3Q18…
  5. 3Q 2019 Earnings Presentation – Chevron Corp – slide 5
    Chevron earnings 3Q19 vs. 2Q19 millions Upstream Downstream Other Special items* FX* Realizations -1,350 59 Margin Opex Chemicals Other Other Liftings Other -535 -60 -60 -71 128 4,305 -60 -31 255 2,452 2,580 2Q19…
  6. 3Q 2019 Earnings Presentation – Chevron Corp – slide 6
    Worldwide net oil & gas production 3Q19 vs. 3Q18 MBOED MCPs Base Shale & Turnarounds/ tight downtime Asset 35 -36 sales -21 Other + Permian growth -28 -7 + Big Foot and Hebron ramp-up - Denmark and Frade asset sales 134 -…
  7. 3Q 2019 Earnings Presentation – Chevron Corp – slide 7
    Worldwide net oil & gas production In line with guidance Net production MBOED 4 - 7% growth* excluding the impact 3,200 of 2019 asset sales 3Q production 3,033 MBOED 3,100 Turnarounds (129) MBOED 3,000 5% growth Asset sales…
  8. 3Q 2019 Earnings Presentation – Chevron Corp – slide 8
    Updated FGP/WPMP cost & schedule 100% B 25% 46.5 40 36.8 30 Cost estimate 45.2 B 20 10 Contingency Cost estimate 25% cost increase 0 FID Engineering Fabrication Construction Schedule & Updated Other Primary drivers:…
  9. 3Q 2019 Earnings Presentation – Chevron Corp – slide 9
    FGP/WPMP capital outlook 100% B 10 8 6 Peak spending in 2018 & 2019 4 2 0 Focus on construction 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 CVX C&E guidance unchanged 25% to go 2020: 18 - 20 B 20212023: 19 - 22…
  10. 3Q 2019 Earnings Presentation – Chevron Corp – slide 10
    Upstream portfolio highlights Mexico Brazil Philippines Deepwater blocks 20, 21 & 23 Campos Basin Malampaya divestment 40% working interest Won four blocks at ANP16 SPA signed on October 25 35-40% working interest Expected to close…
  11. 3Q 2019 Earnings Presentation – Chevron Corp – slide 11
    Lowering the carbon intensity GHG emission reduction targets Carbon sequestration Targeted reduction Began operation of Gorgon CO2 Injection Project 2016 2023 Upstream oil net GHG 5% - 10% emission intensity New Upstream…
  12. 3Q 2019 Earnings Presentation – Chevron Corp – slide 12
    Looking ahead 4Q 2019 outlook Full year 2019 production growth (excluding asset sales) in the middle of the 4-7% range Full year asset sales production impact (30 MBOED) UPSTREAM Turnarounds (70 MBOED) Exploration related…
  13. 3Q 2019 Earnings Presentation – Chevron Corp – slide 13
    questions answers 2019 Chevron Corporation 14
  14. 3Q 2019 Earnings Presentation – Chevron Corp – slide 14
    Appendix: reconciliation of non-GAAP measures Reported earnings to earnings excluding special items and FX 3Q18 4Q18 1Q19 2Q19 3Q19 Reported earnings ( millions) Upstream 3,379 3,290 3,123 3,483 2,704 Downstream 1,373 859 252 729…
  15. 3Q 2019 Earnings Presentation – Chevron Corp – slide 15
    Appendix: reconciliation of non-GAAP measures Cash flow from operations excluding working capital Free cash flow millions FY 2016 FY 2017 FY 2018 FY 2016 Quarterly FY 2017 Quarterly FY 2018 Quarterly 1Q19 2Q19 3Q19 Avg.* Avg.*…
  16. 3Q 2019 Earnings Presentation – Chevron Corp – slide 16
    Permian production On track with steady rig count Midland and Delaware Basin1 Net MBOED 1,000 750 500 3Q production 455 MBOED up 117 MBOED from 3Q 2018 250 2016 2017 2018 2019 2020 2021 2022 2023 Monthly…
  17. 3Q 2019 Earnings Presentation – Chevron Corp – slide 17
    Gorgon / Wheatstone Third quarter production 400 MBOED Net production MBOED 450 400 350 300 3Q19 net production 250 Gorgon 217 MBOED 200 Wheatstone 185 MBOED 150 100 50 2017 2018 1Q19 2Q19 3Q19 Gorgon…
  18. 3Q 2019 Earnings Presentation – Chevron Corp – slide 18
    Appendix Worldwide net oil & gas production: 3Q19 vs. 2Q19 MBOED Shale & Turnaround/ tight downtime 43 Base -87 Other + Permian growth -17 10 - Turnaround & downtime activity - Hurricane Barry 3,084 3,033 2Q19 3Q19…
  19. 3Q 2019 Earnings Presentation – Chevron Corp – slide 19
    Appendix U.S. upstream earnings: 3Q19 vs. 2Q19 millions Realizations Liftings DD&A Other -195 30 -55 51 Lower liquids realizations Primarily higher Permian production 896 727 2Q19 3Q19 earnings earnings 2019…
  20. 3Q 2019 Earnings Presentation – Chevron Corp – slide 20
    Appendix International upstream earnings: 3Q19 vs. 2Q19 millions Special items FX Realizations -180 27 Liftings Taxes/ -340 Exploration other Absence of Alberta tax rate change -90 -40 13 7/bbl decrease in Brent Higher…
  21. 3Q 2019 Earnings Presentation – Chevron Corp – slide 21
    Appendix U.S. downstream earnings: 3Q19 vs. 2Q19 millions Margins Opex CPChem 70 -65 Other Higher refining & marketing margins -45 Higher opex primarily due to higher -36 planned turnarounds Lower CPChem margins inclusive of…
  22. 3Q 2019 Earnings Presentation – Chevron Corp – slide 22
    Appendix International downstream earnings: 3Q19 vs. 2Q19 millions Margins Volume Other Higher Asia refining margins -20 -25 FX 185 36 440 264 2Q19 3Q19 earnings earnings 2019 Chevron Corporation 23

From the store

Browse maps, data & reports in the Shale Experts store