Chevron boasts of U.S. shale, but spending more elsewhere

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While lauding the opportunities in the Permian shale basin in Texas, Chevron said it would spend more on projects already underway, such as in Kazakhstan.

Chevron said it planned to spend $18.3 billion next year on exploration, adding it was focused on the growth potential in the Permian shale basin in Texas.

“With production currently exceeding guidance in the Permian, our 2018 plan should deliver both strong production growth and solid free cash flow, at prices comparable to what we’ve seen this year,” Chairman and CEO John Watson said in a statement

 

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