CVX · 10-Q · 2026Q3 · Full report

Depreciation and Depletion Expense

CHEVRON CORP · 2026-11-05 · Importance 53 · Surprise 48

Depreciation, depletion and amortization expense increased to $18.162 billion in the first nine months of 2026 from $14.248 billion in the prior-year period, a rise of $3.914 billion, or about 27%. The increase primarily reflected higher production, including from legacy Hess assets, and higher depreciation rates. U.S. and International Upstream results also cited higher nine-month depreciation, depletion and amortization of $1.2 billion and $1.6 billion, respectively.

Key facts

• Chevron DD&A expense was $6.272 billion in Q3 2026 versus $5.781 billion in Q3 2025, and $18.162 billion for the first nine months of 2026 versus $14.248 billion in 2025. source
• Chevron DD&A expense increased in Q3 2026 primarily due to higher rates. source
• Chevron DD&A expense increased for the first nine months of 2026 primarily due to higher production, including legacy Hess assets, and higher rates. source