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Chevron To Send $2.5 Billion In 2017 To Permian, Duvernay, Vaca Muerta
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Chevron Corporation announced a $19.8 billion capital and exploratory investment program for 2017. Included in the 2017 program are $4.7 billion of planned affiliate expenditures.
The Permian (Midland and Delware basins) where the company is testing the Wolfcamp and Bonespring formations will see the majority of the earnmarked $2.5 billion, which the company said it plans to spend on "shale and tight investments". The company has a active exploration program in the Argentina's Vaca Muerta.
2017 Capital and Exploratory Spending Program:
| Chevron Capital Expenditures ($ Billion) |
2017 | 2016 | 2015 | ||
| US Upstream | 5.7 | 6% | 5.4 | -34% | 8.2 |
| International Upstream | 11.6 | -38% | 18.6 | -21% | 23.4 |
| Total Upstream | 17.3 | -28% | 24 | -24% | 31.6 |
| US Downstream | 1.6 | 1.6 | 2 | ||
| International Downstream | 0.6 | 0.6 | 0.8 | ||
| Total Downstream | 2.2 | 0% | 2.2 | -21% | 2.8 |
| Other | 0.3 | 0.4 | 0.6 | ||
| Total | 19.8 | -26% | 26.6 | -24% | 35 |
Onshore US Drilling Program(2016 & 2017)
Here is a quick look at Chevron's current onshore drilling program.
A quick look in our rig database shows the company steadily increase its permian basin rigs in Midland County (Midland Basin ) and Culberson in Delaware Basin where the company is jointly developing its acreage with Cimarex.
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