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MarketScreener Homepage  >  Equities  >  Nyse  >  Chevron Corporation    CVX

CHEVRON CORPORATION

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Chevron Corporation : Chevron Removes Natural Gas from Louisiana Cavern After Sinkhole Found

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08/08/2012 | 01:23pm EDT
   By Ben Lefebvre 
 

A Chevron Corp. (CVX) pipeline subsidiary said Wednesday it has started removing natural gas from a storage cavern in Louisiana after a sink hole appeared in the area.

Chevron Pipe Line Co. said the NS1 storage cavern was not in immediate danger from the sink hole in a swamp area of Assumption Parish, La., south of Baton Rouge. The sink hole, a dramatic erosion of the ground, appeared when the underground salt dome over a former mine gave way. The phenomenon prompted the evacuation of nearby residents.

"While we have no reason to believe that the integrity of the NS1 cavern is threatened, [the company] has elected to take the step of drawing down the NS1 cavern as a precaution," Chevron spokesman Gareth Johnstone said.

Chevron declined to say how much natural gas was being stored in the NS1 cavern. The company said it was not removing natural gas from two other storage caverns its subsidiary operates in Louisiana.

Write to Ben Lefebvre at ben.lefebvre@dowjones.com.

Subscribe to WSJ: http://online.wsj.com?mod=djnwires

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Financials (USD)
Sales 2019 154 B
EBIT 2019 20 918 M
Net income 2019 13 541 M
Debt 2019 21 005 M
Yield 2019 3,84%
P/E ratio 2019 17,4x
P/E ratio 2020 16,0x
EV / Sales2019 1,66x
EV / Sales2020 1,58x
Capitalization 235 B
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Mean consensus OUTPERFORM
Number of Analysts 26
Average target price 137,27  $
Last Close Price 123,66  $
Spread / Highest target 33,4%
Spread / Average Target 11,0%
Spread / Lowest Target -14,3%
EPS Revisions
Managers
NameTitle
Michael K. Wirth Chairman & Chief Executive Officer
Patricia E. Yarrington Chief Financial Officer & Vice President
Joseph C. Geagea EVP-Technology, Projects & Services Divisions
Ronald D. Sugar Lead Independent Director
Enrique Hernandez Independent Director
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