Chevron reports record production in Q3 2025 after Hess acquisition

Core Insights - Chevron reported a 21% growth in worldwide production in Q3 2025, reaching 4.1 million barrels of oil equivalent per day, driven by the $55 billion acquisition of Hess and increased output from existing operations [1][3] Financial Performance - Net income for Q3 2025 was $3.54 billion, or $1.82 per diluted share, down from $4.49 billion ($2.48 per share) in Q3 2024 [2] - Total revenues for Q3 2025 were $49.73 billion, slightly lower than $50.67 billion in Q3 2024, including a net loss of $235 million from severance and transaction costs related to the Hess acquisition [2] - Total costs for Q3 2025 remained almost unchanged at $44.18 billion compared to the same period in 2024 [3] - Net cash flow from operating activities was $9.4 billion, down from $9.7 billion in Q3 2024 [3] Production and Cash Flow - Chevron achieved record production levels, with U.S. production up 27% and worldwide production up 21% from the previous year [3] - Adjusted free cash flow increased by more than 50% year-over-year, with $6 billion returned to shareholders in the quarter and over $78 billion returned in the last three years [4] - For the nine months ended September 30, 2025, net income was $9.53 billion, down from $14.42 billion in the same period of 2024 [4][5] - Revenues for the first nine months of 2025 were $142.16 billion, compared to $150.57 billion in the same period last year [5]