“Upstream spending in 2024 is expected to be about $14 billion….two-thirds for Permian shale … about 25 percent for Gulf of Mexico”. Wow, what will we do when west Texas is toast in the next five years?
6 replies (most recent on top)
@ikd, my thoughts exactly. MW and his buddies will be happily retired before the Permian balloon bursts. Until that point, it will continue to be a money pit. Can anyone say whether Permian is actually profitable?
@1wet: Must be 2/3 of USA spend.
One-third for Permian, not two-thirds. Slight difference…
I think MW already has more than enough money, therefore it’s another “angle” and until that is “satisfied” buckle in!
Acquisitions sir, acquisitions.
If you haven’t realized yet, chevron’s core business is now acquiring useful assets and human capital, since it cannot develop these on its own.
In 5 years MW and the rest of senior management will be safely retired so who cares that the company will crippled and on the fire sale listings MW will have all the money he needs. If your outside very senior management don't expect and long-term employment with Chevron