Last $113.47 USD
Change Today -0.48 / -0.42%
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Company Description

Contact Info

6001 Bollinger Canyon Road

San Ramon, CA 94583

United States

Phone: 925-842-1000

Fax:

go fields. The company holds a 64.1 percent interest in the LNG facilities and an 80.2 percent interest in the offshore licenses. The company also executed binding long-term sales and purchase agreements with two Asian customers for the delivery of additional LNG. As of December 31, 2013, 85 percent of the company’s equity LNG offtake is committed under long-term agreements with customers in Asia. In addition, the company continues to market its equity share of natural gas to Western Australia consumers. During 2013, the company announced two natural gas discoveries in the Carnarvon Basin. These include natural gas discoveries at the 50 percent-owned and operated Kentish Knock South prospect in Block WA-365-P and the 50 percent-owned and operated Elfin prospect in Block WA-268-P. These discoveries are expected to contribute to expansion opportunities at company-operated LNG projects. The company has a 16.7 percent nonoperated working interest in the North West Shelf (NWS) Venture in Western Australia. Approximately 70 percent of the natural gas was sold in the form of LNG to major utilities in Asia, primarily under long-term contracts. The remaining natural gas was sold to the Western Australia domestic market. The concession for the NWS Venture expires in 2034. The company holds nonoperated working interests ranging from 24.8 percent to 50 percent in three blocks in the Browse Basin. In 2013, the company acquired nonoperated working interests in two onshore blocks covering 810,000 total acres in the Nappamerri Trough, located in the Cooper Basin region in central Australia. The acquisition includes a 30 percent interest in PEL 218 in South Australia and an 18 percent interest in ATP 855 in Queensland. Pending results of an exploration drilling program, the company could earn nonoperated working interests of 60 percent in PEL 218 and 36 percent in ATP 855. In 2013, the company acquired exploration interests in offshore Blocks EPP44 and EPP45, which span approximately 8 million acres in the Bight Basin off the South Australian coast. The company is the operator and holds a 100 percent interest. Europe In Europe, the company is engaged in upstream activities in Bulgaria, Denmark, Lithuania, the Netherlands, Norway, Poland, Romania, Ukraine, and the United Kingdom. Denmark: The company holds a 12 percent nonoperated working interest in the Danish Underground Consortium, which produces crude oil and natural gas from 13 fields in the Danish North Sea. The concession expires in 2042. Netherlands: The company operates and holds interests ranging from 23.5 percent to 80 percent in 11 blocks in the Dutch sector of the North Sea. Norway: The company holds a 7.6 percent nonoperated working interest in the Draugen Field. The company is the operator and has a 40 percent working interest in exploration licenses PL 527 and PL 598. Both licenses are in the deepwater portion of the Norwegian Sea. United Kingdom: The company’s average net oil-equivalent production in 2013 from nine offshore fields was 55,000 barrels per day, composed of 40,000 barrels of liquids and 94 million cubic feet of natural gas. Majority of the production was from three fields, such as the 85 percent-owned and operated Captain Field; the 23.4 percent-owned and operated Alba Field; and the 32.4 percent-owned and jointly operated Britannia Field. Procurement and fabrication activities continued during 2013 for the Clair Ridge Project, located west of the Shetland Islands, in which the company has a 19.4 percent nonoperated working interest. The project is the second development phase of the Clair Field. At the 40 percent-owned and operated Rosebank Project northwest of the Shetland Islands, the company assesses alternatives for the optimum development of the Rosebank Field. Bulgaria: The company works with the government of Bulgaria to provide the necessary assurances that shale hydrocarbons could be developed. Lithuania: The company holds a 50 percent interest in a Lithuanian exploration and production company. In 2013, two exploration wells were drilled in the 394,000-acre Rietavas Block, and the results of the wells are un

 

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CVX

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Valuation CVX Industry Range
Price/Earnings 10.5x
Price/Sales 1.0x
Price/Book 1.4x
Price/Cash Flow 5.9x
TEV/Sales 0.8x
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