Chevron Surpasses Analysts' Expectations with $6 Billion Q2 Profit
Chevron Corp reported a second-quarter net profit of $6 billion, surpassing Wall Street estimates. The company's CEO, Michael Wirth, indicated that Chevron remains open to further acquisitions and increasing shareholder distributions. Despite a softer macro price environment compared to the first quarter, Chevron achieved high levels of operating performance and minimal unplanned downtime. The company's oil and gas production in the Permian Basin reached a record high, and its expansion project in Kazakhstan remains on schedule and on budget. Chevron's recent acquisition of PDC Energy is expected to significantly increase production in the DJ Basin.