CVX · News · 20260923N

Capital Expenditure Outlook

CHEVRON CORP · 2026-09-23 · Importance 59 · Surprise 82

Chevron plans to increase exploration spending by more than 50% in 2027. The additional investment is intended to address reserve replacement and support long-term production after a recent decline in proven reserves. Chevron is expected to use artificial intelligence and improved seismic data to identify prospects in frontier basins. The report links the spending increase to the company’s long-term upstream strategy and notes that Brent crude prices were near $100 per barrel at the time of reporting.