Chevron's Gorgon LNG partners to spend USD4B to maintain gas supply

  • Chevron (NYSE:CVX) and its partners in the Gorgon LNG project off Western Australia say they plan to invest another AUSD6B (~USUSD4B) to maintain the rate of supply of gas for the plant and improve gas recovery from offshore wells.
  • Chevron says the project will include building and installing a floating platform weighing 27K metric tons at the Jansz-Io field, one of the huge offshore resources that supplies Gorgon LNG's 15.6M mt/year plant on Barrow Island, as well as subsea compression infrastructure at the field and a 135-km underwater power cable to Barrow Island.
  • The project will involve installing compression equipment at the Jansz-Io field, one of the huge offshore resources that supplies Gorgon LNG's 15.6M mt/year plant on Barrow Island, a 27K-mt offshore platform and the use in Australia for the first time of underwater compression technology.
  • Chevron expects the project, which will help gas recovery at the Gorgon LNG project as the Jansz-Io field ages, will take five years to complete.
  • Chevron is the operator of Gorgon LNG and owns 47% of the project; its partners are Exxon Mobil (NYSE:XOM), Royal Dutch Royal Dutch Shell ( Royal Dutch Shell A .A, Royal Dutch Shell A .B), Osaka Gas, Tokyo Gas and JERA.

    Over the current book year the company from San Ramon's total revenue could be around 141.15 billion USD (consensus estimates). This is rather significant more than 2020's revenue of 94.47 billion USD.

    Historical revenues and results Chevron plus estimates 2020

    financiële analyse

    The analysts expect for 2021 a net profit of 11.32 billion USD. The majority of the analysts expects for this year a profit per share of 6.28 USD. So the price/earnings-ratio equals 16.13.

    Huge dividend Chevron

    Analysts expect a dividend of 5.31 USD per share. Thus the dividend yield equals 5.24 percent. The average dividend yield of the oil & gas producers equals a good 3.08 percent.

    Chevron 's market capitalization is based on the number of outstanding shares around 190.66 billion USD. The Chevron stock was the past 12 months quite volatile. Since last July the stock is even 21 percent higher. This year the stock price moved between 65 and 113 dollar.

    Historical stock prices Chevron past 10 years

    stock prices chevron

    On Thursday the stock closed at 101.3 USD.

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