Chevron CEO Mike Wirth on Q4 earnings

Summary

Chevron CEO Mike Wirth joined Jim Cramer to discuss Chevron's Q4 and full-year earnings, highlighting record production, strong free cash flow growth despite lower oil prices, and higher shareholder returns. Wirth also detailed Chevron's West Texas natural gas power project and ongoing talks with hyperscalers about supplying data center growth. He noted dividend growth and operational efficiency, including AI-driven productivity, as key supports for future cash flow.

• Chevron reported record 2025 production and adjusted free cash flow up 35% despite a 15% drop in oil prices.
• Chevron returned a record $27 billion to shareholders and raised its dividend by 4%, the 39th consecutive annual increase.
• Management cited cost cuts, AI-driven efficiency, and a diversified portfolio including Hess, Kazakhstan, Permian, and Gulf of America as growth drivers.
• Chevron is in talks with hyperscalers about a West Texas purpose-built energy park not connected to the grid.
• The proposed project would scale with data center growth and use Chevron's 3 Bcf/day US natural gas production and secured turbines.
• Chevron expects to announce more on the project later this year.