Chevron, a leading energy company, recently announced a remarkable 21% growth in worldwide production during the third quarter of 2025 (Q3 2025) compared to the same period last year. This growth, amounting to 4.1 million barrels of oil equivalent per day (mboe/d), was primarily attributed to Chevron’s acquisition of Hess for $55 billion and increased output from its existing operations.
The acquisition of Hess contributed 495,000 barrels of oil equivalent per day (boepd) to Chevron’s production, while its legacy operations saw a further increase of 227,000 boepd. Despite the significant growth in production, Chevron’s net income for Q3 2025 stood at $3.54 billion, or $1.82 per diluted share, down from $4.49 billion ($2.48 per share) in the same period the previous year.
Total revenues and other income for the quarter amounted to $49.73 billion, slightly lower than the $50.67 billion reported in the corresponding quarter in 2024. The reported revenues included a net loss of $235 million from severance and other transaction costs related to the Hess acquisition, partially offset by a fair value adjustment to Hess shares.
Chevron’s total costs for the reported quarter remained relatively unchanged from $44.18 billion in the same period in 2024. The company’s net cash flow from operating activities was reported at $9.4 billion, compared to $9.7 billion in the same quarter the previous year.
Chevron’s Chairman and CEO, Mike Wirth, expressed satisfaction with the third-quarter results, highlighting record production, strong cash generation, and superior cash returns to shareholders. He noted that both US and worldwide production reached new company records, with a 27% and 21% increase, respectively, from the previous year.
Wirth also emphasized the sustained strong cash flow from operations and a more than 50% increase in the company’s adjusted free cash flow compared to a year ago. Chevron returned $6 billion of cash to shareholders in the quarter and over $78 billion in the last three years.
For the nine months ended September 30, 2025, Chevron reported a net income of $9.53 billion, down from $14.42 billion in the same period of 2024. Revenues and other income for the first nine months totaled $142.16 billion, compared to $150.57 billion in the corresponding period last year. Total costs for the nine months of 2025 were $127.01 billion, down from $129.12 billion a year ago, while net cash flows from operating activities increased to $23.2 billion from $22.8 billion in the same period of 2024.
In conclusion, Chevron’s record production in Q3 2025 following the Hess acquisition demonstrates the company’s commitment to growth and success in the energy sector. The company’s strong financial performance and strategic acquisitions position it as a key player in the industry, delivering value to shareholders and contributing to global energy supply.
