CVX · 10-Q · 2026Q2 · Full report
Capital Expenditures
CHEVRON CORP · 2026-08-06 · Importance 68 · Surprise 58 · No source text
Chevron’s capital expenditures reached $8.601 billion in the first six months of 2026, up $962 million, or approximately 12.6%, from $7.639 billion in the prior-year period. The increase primarily reflected spending associated with legacy Hess assets, partly offset by lower Permian Basin spending. Six-month U.S. Upstream capex was $4.379 billion versus $4.826 billion, while International Upstream capex increased to $3.712 billion from $2.235 billion.
Key facts
- Capital expenditures totaled $8.6 billion in the first six months of 2026, compared with $7.6 billion in the year-ago period. source
- Capex in the first six months of 2026 was $962 million higher than the prior year primarily due to spend associated with legacy Hess assets, partially offset by lower spend in the Permian Basin. source
- Less: Capital expenditures for six months ended June 30, 2026: $8,601 million (presented as a reduction in cash flow). source
- Less: Capital expenditures for six months ended June 30, 2025: $7,639 million (presented as a reduction in cash flow). source
- Six months ended June 30, 2026 total company capex: $8,601 million. source
- Six months ended June 30, 2025 total company capex: $7,639 million. source
- Six months ended June 30, 2026 United States Upstream capex: $4,379 million. source
- Six months ended June 30, 2025 United States Upstream capex: $4,826 million. source
Impact estimates
| metric | direction | stage | expected | basis |
|---|---|---|---|---|
| cash | negative | realized | -2.6% | Less: Capital expenditures for six months ended June 30, 2026: $8,601 million (presented as a reduction in cash flow). |
| cash | negative | realized | -0.3% | Capex in the first six months of 2026 was $962 million higher than the prior year primarily due to spend associated with legacy Hess… |