San Ramon, Calif., January 29, 2021 – Chevron Corporation (NYSE: CVX) today reported a loss of $665 million ($(0.33) per share – diluted) for fourth quarter 2020, compared with a loss of $6.6 billion ($(3.51) per share – diluted) in fourth quarter 2019. Included in the current quarter was a charge of $120 million associated with Noble Energy, Inc. acquisition costs. Foreign currency effects decreased earnings by $534 million. Adjusted loss of $11 million ($(0.01) per share – diluted) in fourth quarter 2020 compares to adjusted earnings of $2.8 billion ($1.49 per
share – diluted) in fourth quarter 2019.
Chevron reported a full-year 2020 loss of $5.5 billion ($(2.96) per share – diluted), compared with earnings of $2.9 billion ($1.54 per share – diluted) in 2019. Included in 2020 were net charges for special items of $4.5 billion, compared to net charges of $8.7 billion for special items in 2019. Foreign currency effects decreased earnings in 2020 by $645 million. Adjusted loss of $368 million ($(0.20) per share – diluted) in full-year 2020 compares to adjusted earnings of $11.9 billion ($6.27 per share – diluted) in full-year 2019.
Wells Drilled 2020 Mid Con & Western Canada
Download 2020 Spud Report
CAPITAL AND EXPLORATORY EXPENDITURES
Capital and exploratory expenditures in 2020 were $13.5 billion, compared with $21.0 billion in 2019. The amounts included $4.0 billion in 2020 and $6.1 billion in 2019 for the company’s share of expenditures by affiliates, which did not require cash outlays by the company. Expenditures for upstream represented 81 percent of the company-wide total in 2020. Included in 2020 were inorganic capital expenditures of $350 million primarily associated with the downstream acquisition of Puma Energy (Australia) Holdings Pty Ltd. The acquisition of Noble Energy is not included in the company’s capital and exploratory expenditures.
Sponsor
Pingback:Texas Air Permits Related to Oil & Gas Facilitates - Report Date Jan 31, 2021 – Oil Gas Leads