Chevron forecasts 2025 Permian production to climb 9-10%

Chevron Corp., Houston, is forecasting 2025 total oil and gas production will climb 6-8% from last year’s nearly 3.34 MMboe/d, executives said Jan. 31. That growth is expected to pick up in second-half 2025 thanks to projects in the Gulf of Mexico and Kazakhstan but Permian basin assets also are expected to grow production about 10% despite receiving less investment.

Speaking after Chevron reported its fourth-quarter results—net income of $3.24 billion on revenues of $52.2 billion—chairman and chief executive officer Mike Wirth and chief financial officer Eimear Bonner said they are focused on capital efficiency and expect Chevron to grow its free cash flows by $2 billion by end-2026.

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Source: Oil & Gas Journal

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