Investor Presentaiton
EPB ($/BOE)
12
9
CO
3
Profitably growing our upstream business
Upstream earnings per barrel
Excludes special items
EPB
0
2015-2019
Brent
60
80
Improved
margins
60
go
40
40
20
20
0
2023-2027
guidance
Brent ($/BBL)
2023-2027 guidance is based on flat nominal $60/BBL Brent. This is for illustrative purposes only and not
necessarily indicative of Chevron's price forecast.
See Appendix for reconciliation of non-GAAP measures and slide notes providing definitions, source
information, calculations, and other information.
© 2023 Chevron
Capital & cost
efficient
Expect >3% CAGR
for production by 2027
Chevron
3
2
1
Production guidance
Excludes impact of potential asset sales
Net MMBOED
Base
TCO
Other Shale & Tight
■ Permian
■ Gulf of Mexico
0
2022
2027
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