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GasBuddy News Article

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Chevron sticks with oil. And it pays off.

Anchorage Daily News online -- CHRIS KAHN
The Associated Press

Published: April 27th, 2012 02:06 PM
Last Modified: April 27th, 2012 02:15 PM

NEW YORK (AP) - Chevron never bought into North America's natural gas boom the way Big Oil peers like Exxon did.

That decision appears to be paying off.

The San Ramon, Calif. energy giant reported Friday that profits increased 4.2 percent from January to March as oil sold for higher prices. Meanwhile a plunge in U.S. natural gas prices contributed to an 11 percent profit decline at Exxon. ConocoPhillips, another major U.S. natural gas producer, saw profits fall 3 percent.

Chevron's reliance on oil "turned out to be a really good decision," Argus Research analyst Phil Weiss said. "And it could serve them well. They have a lot of cash on hand."

New technologies set off a rush


Read the Full Article

Submitted Apr 29, 2012 By: Nitewolf
Category: Daily News Article Discussions > Topics Add to favorite topics  
Author Topic: Chevron sticks with oil. And it pays off. Back to Topics
REPLIES (newest first) Post a Reply
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honda0105
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Message Posted: May 3, 2012 5:53:11 AM

time will tell.
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DanMtz
Champion Author Oakland

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Message Posted: Apr 30, 2012 8:11:17 PM

For now it's paying off.
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kgbellman
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Message Posted: Apr 30, 2012 1:50:04 AM

Today's heros, tomorrow's zeros
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roadrunnerMO
Champion Author Kansas

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Message Posted: Apr 30, 2012 1:06:20 AM

Good when oil companies diversify into other energy sources.
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nwsynthetics
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Message Posted: Apr 30, 2012 1:04:24 AM

Ill start driving my forklift
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Ron77095
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Message Posted: Apr 30, 2012 1:03:47 AM

ok.
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heartbroken2010
Champion Author Ottawa

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Message Posted: Apr 30, 2012 1:03:04 AM

Hmm.
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tampacrvdriver
Champion Author Tampa

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Message Posted: Apr 30, 2012 1:02:42 AM

Oil is a beast.
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must87searcher
Champion Author Maryland

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Message Posted: Apr 30, 2012 12:57:27 AM

If the resource is available, and is widely used (which may be under question), the go for it.
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downstream
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Message Posted: Apr 30, 2012 12:56:45 AM

ok
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bobdec
Champion Author Miami

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Message Posted: Apr 30, 2012 12:56:12 AM

Lets get natural gas cars
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BWJM
Champion Author KW

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Message Posted: Apr 30, 2012 12:54:23 AM

ok
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BobD2009
Champion Author Long Island

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Message Posted: Apr 30, 2012 12:53:22 AM

I guess Chevron knows how to make a profit. You can't say that with Solyndra.
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granitestater
Champion Author New Hampshire

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Message Posted: Apr 30, 2012 12:51:50 AM

Time to convert to nat gas...
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miiike572
All-Star Author Phoenix

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Message Posted: Apr 30, 2012 12:50:37 AM

Chevron is very proud of their product...look at the price of it.
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TBONE3
Champion Author Pennsylvania

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Message Posted: Apr 30, 2012 12:46:19 AM

As they say, do not put all your eggs in one container!
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lunarrv15
Champion Author Cincinnati

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Message Posted: Apr 30, 2012 12:43:37 AM

okay....interesting
thanks for posting
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abacus44
Champion Author Toms River

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Message Posted: Apr 30, 2012 12:41:42 AM

Seems like a good bet so far but perhaps they should be hedging their bets for the future.
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GryphonX
Champion Author Nevada

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Message Posted: Apr 30, 2012 12:40:38 AM

Maybe short term ok...but I think diversification will pay off in the long run.
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papa56NC
All-Star Author North Carolina

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Message Posted: Apr 30, 2012 12:40:23 AM

Do it chevron!!!
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umitb
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Message Posted: Apr 30, 2012 12:39:33 AM

ok
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miser709
Champion Author Grand Rapids

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Message Posted: Apr 30, 2012 12:39:19 AM

Obama again?
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TIGERPAW46
Champion Author Florida

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Message Posted: Apr 30, 2012 12:37:02 AM

The Shale reservoirs can be used to pump Shale oil in lieu of the NG.
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judgemobile
Champion Author Ohio

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Message Posted: Apr 30, 2012 12:37:00 AM

they would be upset if they were in Nat Gas and prices went down--smaller (still billions) bonuses for the brass.
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KrsnaDragon
Champion Author Montreal

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Message Posted: Apr 30, 2012 12:35:11 AM

Good for Chevron.
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Bezalel
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Message Posted: Apr 30, 2012 12:34:57 AM

What about long term?
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min_fuel
Champion Author Philadelphia

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Message Posted: Apr 30, 2012 12:34:43 AM

May come back to bite them. We need more energy to drive the economy once Obama is sent back home to Chicago.
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bbigred
Veteran Author Lansing

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Message Posted: Apr 30, 2012 12:33:25 AM

I'm going to stick with "no oil"
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THZebra
Champion Author Indiana

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Message Posted: Apr 30, 2012 12:28:53 AM

Thank God Chevron is doing well. I am so proud of them.

As for Exxon-Mobil and Phillips 66, I am worried for them. Hope they recover okay. OMG..I know I will have bad dreams tonight. All I can do is remember them in my prayers.

Maybe when my Phillips credit card statement comes this month I can slip them a few extra bucks to help out.

[Edited by: THZebra at 4/30/2012 12:30:32 AM EST]
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CatMan623
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Message Posted: Apr 30, 2012 12:27:52 AM

"Peak oil", anyone, to go with your "climate change"...???
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Chris46
Champion Author Dayton

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Message Posted: Apr 30, 2012 12:26:40 AM

A drop in the bucket for Exxon Mobile.
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naiiawah
Champion Author Boise

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Message Posted: Apr 30, 2012 12:23:30 AM

Does an Oil company ever come up on the short end of the stick?
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METEOR49
Champion Author Ontario

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Message Posted: Apr 30, 2012 12:22:59 AM

if you're profits are 25 billion and they drop by 11% does that mean we have to have a tag sale for exxon ?
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Rooster922
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Message Posted: Apr 30, 2012 12:20:51 AM

Okay
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danreino
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Message Posted: Apr 30, 2012 12:20:48 AM

Natural Gas will be slow to catch on since the big semi trucks last soooo many years and are very expensive to replace.
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tedjm1
Champion Author New York

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Message Posted: Apr 30, 2012 12:19:26 AM

Too much thought for the profit side. Thought should be given to aid our country in its attempt to grt most everyone working with decent jobs.
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TheeRedRam
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Message Posted: Apr 30, 2012 12:18:55 AM

Hummmmm
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frostyWV
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Message Posted: Apr 30, 2012 12:18:13 AM

until natural gas prices go up.
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crreed1
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Message Posted: Apr 30, 2012 12:17:28 AM

ok
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Rednix
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Message Posted: Apr 30, 2012 12:17:09 AM

That may be ok for this quarter but what about long term?
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Bigwaynef
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Message Posted: Apr 30, 2012 12:14:48 AM

Yeah Buddy and I have plenty of natural gas...
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regout
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Message Posted: Apr 30, 2012 12:14:31 AM

The riches makes more money.
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HA4CNN
Champion Author Toronto

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Message Posted: Apr 30, 2012 12:13:56 AM

Now the opposite will be true when the price of natural gas rises substantially.
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KnoxGasPriceSpy
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Message Posted: Apr 30, 2012 12:13:52 AM

it's a gamble...
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Zonk
Champion Author Michigan

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Message Posted: Apr 30, 2012 12:13:37 AM

Okay for now but, natural gas is here to stay.
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Rageagainsttm
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Message Posted: Apr 30, 2012 12:12:53 AM

right
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gmcgas
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Message Posted: Apr 30, 2012 12:12:37 AM

big
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yakstar
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Message Posted: Apr 30, 2012 12:10:16 AM

zzzzzzzzzzzzzzzzzzzz
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jetskijerry
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Message Posted: Apr 30, 2012 12:09:22 AM

& I go to work.
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jetskijerry
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Message Posted: Apr 30, 2012 12:09:01 AM

the rich get richer
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