Chevron announces 4Q19 results

Published by Nicholas Woodroof, Editor
Oilfield Technology, Monday, 03 February 2020 09:30

Chevron Corp. has reported a loss of US$6.6 billion (US$3.51) per share - diluted) for 4Q19, compared with earnings of US$3.7 billion (US$1.95 per share - diluted) in 4Q18.

Included in the current quarter were previously announced upstream impairments and write-offs totalling US$10.4 billion associated with Appalachia shale, Kitimat LNG, Big Foot and other projects. The company also recognised a US$1.2 billion gain on the sale of the UK Central North Sea assets in the fourth quarter. Foreign currency effects decreased earnings in 4Q19 by US$256 million.

Full-year 2019 earnings were US$2.9 billion (US$1.54 per share - diluted), compared with US$14.8 billion (US$7.74 per share - diluted) in 2018. Included in 2019 were net charges for special items of US$8.7 billion, compared to net charges of US$1.2 billion for special items in 2018. Foreign currency effects decreased earnings in 2019 by US$304 million.

Sales and other operating revenues in fourth quarter 2019 were US$35 billion, compared to US$40 billion in the year-ago period.

Read the article online at: https://www.oilfieldtechnology.com/drilling-and-production/03022020/chevron-announces-4q19-results/

Equinor Energy AS concludes drilling of wildcat well 34/6-6 S

Friday 24 March 2023 12:27

The well was drilled about 10 km north of the Visund field, and about 190 km northwest of Bergen.

You might also like