Chevron Corp Stock Price, News & Analysis

TerraVolta Resources and The Energy & Minerals Group have sold their equity interests in two subsidiaries to Chevron U.S.A. Inc. The transaction includes approximately 100,000 net acres of lithium-rich leasehold positions in east Texas and southwest Arkansas, marking Chevron's entry into the domestic lithium market. The deal represents Chevron's first step toward establishing a commercial-scale lithium business in the United States. The assets are located in the Smackover Formation, which TerraVolta has strategically developed over time. The acquisition aligns with the growing demand for domestic critical minerals and supports the development of an integrated lithium supply chain in the United States.

Chevron (NYSE: CVX) has announced its entry into the domestic lithium sector through the acquisition of two leasehold positions from TerraVolta Resources and East Texas Natural Resources, totaling approximately 125,000 net acres. The acreage spans Northeast Texas and Southwest Arkansas, targeting the lithium-rich Smackover Formation. This strategic move marks Chevron's first venture into establishing a commercial-scale domestic lithium business, utilizing direct lithium extraction (DLE) technology for more efficient and environmentally friendly production compared to traditional methods. The investment aims to strengthen U.S. energy security and meet growing demand for critical minerals, leveraging Chevron's expertise in subsurface resource development and value chain integration.

Chevron (CVX) and Halliburton (HAL) have jointly developed a groundbreaking intelligent hydraulic fracturing process in Colorado that implements closed-loop, feedback-driven completions. The system combines automated stage execution with real-time subsurface feedback to optimize wellbore energy delivery without human intervention. This advancement builds upon existing autonomous hydraulic fracturing technology, utilizing Halliburton's ZEUS IQ intelligent fracturing platform, which includes OCTIV auto frac and Sensori monitoring capabilities. The innovation enables operations to adapt in real-time to localized environments rather than relying on performance forecasting, potentially improving asset performance and operational efficiency. The technology integrates Chevron's hydraulic fracturing expertise with Halliburton's digital automation infrastructure to create an advanced decision-making algorithm.

Chevron (CVX) and Halliburton (HAL) have jointly developed a groundbreaking intelligent hydraulic fracturing process in Colorado that implements closed-loop, feedback-driven completions. The innovative system combines automated stage execution with subsurface feedback to optimize wellbore energy delivery without human intervention. The technology leverages Halliburton's ZEUS IQ intelligent fracturing platform, which includes OCTIV auto frac and Sensori monitoring capabilities, alongside Chevron's hydraulic fracturing expertise and subsurface knowledge. This advancement enables real-time adaptation to localized environments rather than relying on performance forecasting, marking a significant shift in hydraulic fracturing operations for shale and tight rock formations.

Chevron (NYSE: CVX) held its Annual Meeting of Stockholders, where shareholders demonstrated strong support for the company's governance and performance. Stockholders voted in favor of all Board nominees with 97% approval and supported management recommendations on all matters. Key voting results included 96% approval for PricewaterhouseCoopers as the independent auditor, 94% support for executive compensation, and 63% approval for officer exculpation amendment. Notably, shareholders rejected proposals for a human rights practices report (89% against), renewable energy stranded asset risks report (98% against), and allowing 10% stockholders to call special meetings (75% against). The meeting had strong participation with approximately 85% of outstanding shares represented.

Chevron (NYSE: CVX) reported Q1 2025 earnings of $3.5 billion ($2.00 per share), down from $5.5 billion ($2.97 per share) in Q1 2024. Adjusted earnings were $3.8 billion ($2.18 per share). The company returned $6.9 billion to shareholders through $3.9 billion in share repurchases and $3.0 billion in dividends. Key operational highlights include production start at the Ballymore field in Gulf of America, completion of Future Growth Project at Tengizchevroil reaching name-plate capacity, and acquisition of 4.99% of Hess Corporation shares. Production remained stable with growth in TCO (20%), Permian Basin (12%), and Gulf of America (7%). The company announced organizational restructuring targeting $2-3 billion in cost reductions by end of 2026.

Chevron (NYSE: CVX) has commenced oil and natural gas production at its Ballymore subsea tieback project in the deepwater Gulf of America. The project, completed on time and on budget, is expected to produce up to 75,000 gross barrels of oil per day through three wells connected to the existing Blind Faith facility.

Located in the Mississippi Canyon area approximately 160 miles southeast of New Orleans at 6,600 feet water depth, Ballymore represents Chevron's first development in the Gulf's Norphlet trend. The project has estimated potentially recoverable resources of 150 million barrels of oil equivalent gross.

This development supports Chevron's goal to achieve 300,000 net barrels per day of oil equivalent production from the Gulf by 2026. Chevron operates the project with a 60% working interest, while TotalEnergies holds the remaining 40%.

Chevron (NYSE: CVX) has announced its upcoming first quarter 2025 earnings conference call scheduled for Friday, May 2, 2025, at 11:00 a.m. ET. The call will feature key executives including CEO Mike Wirth, CFO Eimear Bonner, and Head of Investor Relations Jake Spiering.

The conference call will be accessible via dial-in (800-401-3551) with Conference ID 6929305, and a live webcast will be available on chevron.com. A replay will be provided in the 'Investors' section of the company website.

Chevron, as a leading integrated energy company, focuses on crude oil and natural gas production, manufacturing transportation fuels, lubricants, petrochemicals, and additives. The company's strategy encompasses growing its traditional oil and gas business while reducing operational carbon intensity and expanding into renewable fuels, carbon capture, hydrogen, and data center power generation.

Chevron (NYSE: CVX) has announced the sale of a 70% interest in its East Texas gas assets to TG Natural Resources (TGNR) for $525 million. The deal includes $75 million in cash and $450 million as a capital carry for Haynesville development. Chevron will maintain a 30% non-operated working interest and an overriding royalty interest in the joint venture.

The transaction is expected to generate over $1.2 billion in value at current Henry Hub prices through the multi-year capital carry, retained working interest, and royalty interest. This sale aligns with Chevron's strategy to divest $10-15 billion in assets by 2028 to optimize its global energy portfolio.