- (PLX AI) - Chevron maintaining guidance for annual organic capital and exploratory expenditures of $15 billion to $17 billion through 2026
- • Chevron target to reduce 2026 operating expenses per barrel by more than 10% from 2021 levels
- • Chevron expected oil and gas production CAGR greater than 3% by 2026
- • Higher production is expected to result in a 12% return on capital employed in 2026 and 10% CAGR of operating cash flow per share by 2026, both at $60 Brent
- • The company also raised its share buyback guidance range to $5 to $10 billion per year, up from prior guidance of $3 to $5 billion per year
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