Chevron Earnings Jump on Permian Output, Anadarko Breakup Fee
Pumpjacks operate on oil wells in the Permian Basin in this aerial photograph taken over Crane, Texas.
Photographer: Bloomberg/BloombergThis article is for subscribers only.
Chevron Corp. posted strong production growth from the Permian Basin combined with a stabilization in its refining operations to beat earnings estimates in the second quarter.
Profit was $2.27 per share, surpassing the $1.76 average estimate of analysts in a Bloomberg survey. That includes $740 million from the termination fee the company received in connection with its aborted takeover of Anadarko Petroleum Corp.