Chevron's U.S. net oil-equivalent production in Q1 increased by 388,000 boed to 2.024 million boed, driven by growth in the Permian Basin and Gulf of Mexico. The company's Permian assets produced 1.03 million boed, marking the fifth consecutive quarter above 1 million boed. Chevron's capital expenditures in Q1 were higher due to spending on Hess legacy assets.
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