San Ramon, Calif.-based Chevron Corp. said recently its U.S. net oil-equivalent production in first quarter was 35 percent higher than the first quarter last year “primarily due to the acquisition of PDC Energy and sustained strong execution in the Permian and Denver-Julesburg basins.” Mike Wirth, chairman and CEO, said April 26, “We had another quarter of strong operational and financial performance and delivered superior cash returns to shareholders. U.S. production was up 35 percent (406,000 boed) from a year ago, and we continued to meet major project milestones.”
Chevron also advanced its carbon capture value chain, hydrogen and renewable fuels businesses during the quarter. Worldwide production was up 12 percent from 2023Q1. And capex also was up in Q1. Enverus said production in Q1 was highest in Chevron’s history.