Chevron Corp
Close on Nov 2, 2026Market cap $450.02BP/E 21.8Yield 3.00%
Chevron Average Upstream Production Cost per BOE by Year
Average Upstream Production (Lifting) Cost per BOE — Total Consolidated ($/BOE, ASC 932 Table IV)
Chevron Average Upstream Production Cost per BOE: 9.71 $/BOE in 2025, up 5.2% from a year earlier.
Where the 2025 figure comes from
“Average production costs, per barrel 2 | 10.35 | 10.93 | 18.71 | 7.78 | 3.32 | 19.24 | 9.71 | 3.80 | 3.47”
Source: Chevron Corporation Form 10-K, filed 2026-02-24 ↗
Reported in Chevron Form 10-K Supplemental ASC 932 Table IV.
Annual history
Hover a value to see the sentence it was read from; calculated values show their formula
| Period | Ended | Average Upstream Production (Lifting) Cost per BOE — Total Consolidated ($/BOE, ASC 932 Table IV) | Year on year | Source |
|---|---|---|---|---|
| 2025 | Dec 31, 2025 | 9.71 | +5.2% | Chevron Corporation Form 10-K, filed 2026-02-24 ↗ |
| 2024 | Dec 31, 2024 | 9.23 | -9.8% | Chevron Corporation Form 10-K, filed 2026-02-24 ↗ |
| 2023 | Dec 31, 2023 | 10.23 | +0.7% | Chevron Corporation Form 10-K, filed 2026-02-24 ↗ |
| 2022 | Dec 31, 2022 | 10.16 | +2.6% | Chevron Corporation Form 10-K, filed 2025-02-21 ↗ |
| 2021 | Dec 31, 2021 | 9.90 | -1.7% | Chevron Corporation Form 10-K, filed 2024-02-26 ↗ |
| 2020 | Dec 31, 2020 | 10.07 | -5.2% | Chevron Corporation Form 10-K, filed 2023-02-23 ↗ |
| 2019 | Dec 31, 2019 | 10.62 | -1.5% | Chevron Corporation Form 10-K, filed 2022-02-24 ↗ |
| 2018 | Dec 31, 2018 | 10.78 | -5.5% | Chevron Corporation Form 10-K, filed 2021-02-25 ↗ |
| 2017 | Dec 31, 2017 | 11.41 | -13.2% | Chevron Corporation Form 10-K, filed 2020-02-21 ↗ |
| 2016 | Dec 31, 2016 | 13.15 | -9.9% | Chevron Corporation Form 10-K, filed 2019-02-22 ↗ |
| 2015 | Dec 31, 2015 | 14.60 | – | Chevron Corporation Form 10-K, filed 2018-02-22 ↗ |
Breakdown
What makes up average Upstream Production Cost per BOE
- United States — Average Production Cost ($/BOE)10.35 · 2025
- Other Americas — Average Production Cost ($/BOE)10.93 · 2025
- Africa — Average Production Cost ($/BOE)18.71 · 2025
- Asia — Average Production Cost ($/BOE)7.78 · 2025
- Australia — Average Production Cost ($/BOE)3.32 · 2025
- TCO (50% Equity Affiliate) — Average Production Cost ($/BOE)3.80 · 2025
Cite this data
StockData. (2026). Chevron Average Upstream Production Cost per BOE, annual 2015–2025 [Data set]. Compiled from Chevron SEC filings and investor materials. https://stockdatahq.com/stocks/cvx/kpis/asc932-prod-cost-boe-cons
See every metric in the Chevron KPI table. Data updated Oct 25, 2026.