Production up 12% yr/yr (Il Sole 24 Ore Radiocor) - New York, 26 Apr - The US oil and gas company Chevron said that in the first quarter of 2024 reported earnings fell to 5.5 billion dollars, or a diluted 2.97 dollars per share, compared with 6.6 billion dollars, or a diluted 3.46 dollars per share, in first quarter 2023.

Adjusted diluted earnings per share fell to 2.93 dollars from 3.55 dollars.

Cash flow from operations (CFFO) dropped to 6.8 billion dollars from 7.2 billion a year earlier and CFFO excluding working capital dropped to 8.0 billion dollars from 9.0 billion.

Worldwide production was up 12% from a year ago primarily due to the acquisition of PDC and strong operational performance in the Permian and DJ Basins in the US and the Tengizchevroil affiliate in Kazakhstan, partly offset by planned downtime in Nigeria, the company said.

Net oil-equivalent production stood at 3.346 million barrels of oil equivalent a day.

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(RADIOCOR) 26-04-24 12:55:57 (0318) 5 NNNN