Chevron Corporation (CVX) Q2 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good morning. My name is Katie, and I'll be your conference facilitator today. Welcome to Chevron's second quarter 2025 earnings conference call. At this time, all participants are in listen-only mode. After the speaker's remarks, there will be a question and answer session, and instructions will be given at that time. If anyone should require assistance during the conference call, please press star and then zero on your touchtone telephone. As a reminder, this conference call is being recorded. I will now turn the conference call over to the head of investor relations of Chevron Corporation, Mr. Jake Spearing. Please go ahead. Thank you, Katie. Welcome to Chevron's second quarter 2025 earnings conference call and webcast. I'm Jake Spearing, head of investor relations. On the call with me today is our chairman and CEO, Mike Wirth, our vice chairman, Mark Nelson, and our vice president and CFO, Emer Bonner. We will refer to the slides and prepared remarks that are available on Chevron's website. Before we begin, please be reminded that this presentation contains estimates, projections, and other forward-looking statements. A reconciliation of non-GAAP measures can be found in the appendix to this presentation. Please review the cautionary statement and additional information presented on slide two. Now, I will turn it over to Mike. All right. Thanks, Jake. In the second quarter, Chevron achieved several important milestones, continuing the momentum we've been building over the last year. The success underpins strong financial results, industry leading free cash flow growth, and superior distributions to shareholders. Production was a quarterly record for the company, both in the US and worldwide. In the Permian, production averaged more than one million barrels of oil...