Chevron Corporation, through its subsidiaries, engages in integrated energy and chemicals operations. Upstream The company’s upstream operations consist primarily of exploring for, developing and producing crude oil and natural gas; processing, liquefaction, transportation and regasification associated with liquefied natural gas (LNG); transporting crude oil by major international oil export pipelines; transporting, storage and marketing of natural gas; and a gas-to-liquids plant. United States Upstream activities in the United States are primarily located in California, the Gulf of Mexico, Colorado, Louisiana, Michigan, New Mexico, Ohio, Oklahoma, Pennsylvania, Texas, West Virginia and Wyoming. The company is pursuing selected opportunities for divestment of shelf assets in the Gulf of Mexico. The company engages in various exploration, development and production activities in the deepwater Gulf of Mexico. The company has a 50 percent interest in the Jack Field and a 51 percent interest in the St. Malo Field. Both fields are company operated. The company has a 40.6 percent interest in the production host facility, which is designed to accommodate production from the Jack/St. Malo development and third-party tiebacks. The company has a 42.9 percent nonoperated working interest in the Tubular Bells Field. The company has a 15.6 percent nonoperated working interest in the Mad Dog Field. The company holds a 25 percent nonoperated working interest in the Stampede Project, the unitized development of the Knotty Head and Pony discoveries. In January 2016, the company relinquished its interest in Moccasin and transferred the operatorship of Buckskin to another working interest partner. During 2015 and early 2016, the company participated in five appraisal wells and four exploration wells in the deepwater Gulf of Mexico. Drilling was completed at the 50 percent-owned and operated Sicily exploration well in 2015, which resulted in a crude oil discovery. Drilling commenced on an appraisal well at Sicily in December 2015. The company is the operator of an exploration and appraisal program covering 28 jointly held offshore leases in the northwest portion of Keathley Canyon. The company added 13 leases to its deepwater portfolio. The company produces crude oil and natural gas in the midcontinent region of the United States, primarily in Colorado, New Mexico, Oklahoma, Texas and Wyoming. During 2015, net daily production in these areas averaged 116,000 barrels of crude oil, 600 million cubic feet of natural gas and 34,000 barrels of natural gas liquids (NGLs). In the Permian Basin of West Texas and southeast New Mexico, development drilling of shale and tight resources in the Midland and Delaware basins focused on horizontal wells with multistage fracture stimulation, where the company holds approximately 500,000 and 1,000,000 net acres, respectively. The company drilled 147 wells and participated in 180 nonoperated wells in the Midland and Delaware basins in 2015. The company holds leases in the Marcellus Shale and the Utica Shale, primarily located in southwestern Pennsylvania, eastern Ohio and the West Virginia panhandle, and in the Antrim Shale and Collingwood/Utica Shale in Michigan. During 2015, net production in these areas averaged 334 million cubic feet of natural gas per day. Other Americas Other Americas includes Argentina, Brazil, Canada, Colombia, Greenland, Suriname, Trinidad and Tobago and Venezuela. Net oil-equivalent production from these countries averaged 224,000 barrels per day during 2015. Canada: Upstream activities in Canada are concentrated in Alberta, British Columbia and the offshore Atlantic region. The company also has exploration interests in the Beaufort Sea region of the Northwest Territories. The company holds a 26.9 percent nonoperated working interest in the Hibernia Field, which comprises the Hibernia and Ben Nevis Avalon (BNA) reservoirs, and a 23.6 percent nonoperated working interest in the unitized Hibernia Southern Extension (HSE) areas offshore Atlantic Canada. Production start-up of HSE was achieved in 2015. The company holds a 29.6 percent nonoperat
(CVX*:Mexico Stock Exchange)
6001 Bollinger Canyon Road
San Ramon, CA 94583
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