Chevron (CVX) reports $20 billion in equity, exploratory budget; see $10-$11 billion in Q4 impairment charges in Part Because of the shale of Appalachia

Today, Chevron Corporation (NYSE: CVX) reported a $20 billion plan of organic capital and exploratory investment in 2020. The 2020 plan supports a diverse portfolio of upstream and downstream projects, demonstrated by the world-class position of Chevron's Permian Basin, TCO's largest construction venture in Kazakhstan, and an attractive backlog of deepwater prospects in the Gulf of Mexico.

"We position Chevron to win thr....