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Stock impact report

Chevron's quarterly profit beats estimates amid higher US production [Yahoo! Finance]

PDC Energy, Inc. (PDCE) 
Last pdc energy, inc. earnings: 2/26 04:30 pm Check Earnings Report
US:NASDAQ Investor Relations: investor.pdce.com/presentations.cfm
Company Research Source: Yahoo! Finance
Global oil prices were largely range bound in the first three months of 2024 despite rising geopolitical tensions, as non-OPEC members kept up supplies, while a milder winter season pushed natural gas prices to record lows. "U.S. production was up 35 percent from a year ago, and we continued to meet major project milestones," CEO Mike Wirth said in a statement. The higher production was due to the acquisition of PDC Energy, Inc and sustained strong execution in the Permian and Denver-Julesburg (DJ) Basins. Net oil-equivalent production during the quarter was up 12% at 3.34 million barrels of oil equivalent per day (boepd).Late last year, Chevron offered to buy Hess Corp for $53 billion to get a foothold in oil-rich Guyana's lucrative offshore fields. The deal, however, has been stalled by a regulatory review and challenged by Exxon, which claims the right to Hess's Guyana assets. The company, which is in the process of acquiring Hess Corp in a $53 billion deal, reported adj Show less Read more
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