With prices for crude oil and natural gas off sharply from their recent highs, revenue at the oil giant tumbled 37%, from $265 billion to $167 billion. The good news: Production of oil and gas jumped 7%, thanks in part to a 57% success rate on its exploratory drilling. But another pitfall looms: Chevron has a heavy exposure to high-acid crude, particularly its deep-water projects in the U.K. If the government forces it to start processing the high-cost oil, Chevron may opt to cede its drilling rights, a move that would result in a sizeable charge against earnings. --P.N. |
| Key financials |
$ millions |
% change
from 2008 |
| Revenues |
163,527.0 |
-37.9 |
| Profits |
10,483.0 |
-56.2 |
| Assets |
164,621.0 |
— |
| Stockholders' equity |
91,914.0 |
— |
| Market value (3/26/2010) |
149,481.7 |
— |
| Profits as % of |
|
| Revenues |
6.4 |
| Assets |
6.4 |
| Stockholders' equity |
11.4 |
| Earnings per share |
|
| 2009 $ |
5.24 |
| % change from 2008 |
-55.1 |
| 1999-2009 annual growth rate % |
12.8 |
| Total return to investors |
% |
| 2009 |
8.1 |
| 1999-2009 annual rate |
9.4 |
|
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