Chevron Reported 2Q23 Permian Basin Production Of 772,000 Barrels Of Oil Equivalent Per Day, An 11% YoY Increase
Portfolio Pulse from Benzinga Newsdesk
Chevron has reported a record 2Q23 Permian Basin production of 772,000 barrels of oil equivalent per day, marking an 11% YoY increase. The company's well performance in early 2023 is on track with full year guidance, and its deep resource inventory and advantaged royalty position is expected to deliver strong cash flow through 2040.
July 24, 2023 | 5:12 am
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Chevron's record 2Q23 Permian Basin production and strong cash flow projections through 2040 could positively impact its stock price.
Chevron's record production indicates strong operational performance, which is a positive signal to investors. Additionally, the company's projection of strong cash flow through 2040 suggests long-term financial stability, which could further boost investor confidence and potentially drive the stock price up.
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