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Title : It's Always Darkest Before The Dawn -- December 9, 2018
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It's Always Darkest Before The Dawn -- December 9, 2018

Link here to SeekingAlpha:

• Chevron released its 2019 capital budget this week, but before we look at that, let's take a look at the company's YTD financial performance.
• Through the first three quarters of 2018, Chevron delivered an impressive $13.5 billion in FCF - which equates to $7.04/share.
• As a result, the company's strong $4.48 annual dividend (3.9%) and re-started share repurchase plans are in great shape.
• Chevron remains my top pick of the international integrated companies and is cash-flow neutral at $50/bbl Brent (it closed Friday at $61/bbl).
• The recent sell-off has the stock trading on the cheap. It's a great buying opportunity for excellent income and capital gains potential. 

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From the linked article, two items:

and,

All of this free-cash-flow generation is the result of a production profile that continues to be the best of the integrated majors.

Average daily production is expected to be up ~7% this year.

Big Foot, a big project in the GoM that has had a checkered past, just recently achieved first oil. Big Foot is designed for a capacity of 75,000 bopd and 25 MMcf/d of natural gas. Chevron is the operator and has a 60% working interest. Equinor, the old StatOil, has a 27.5% stake.

Chevron's working interest in Big Foot equates to 45,000 bpd oil and 15 MMcf/d natural gas net to Chevron. That significant even for a company of Chevron's size and is a positive catalyst moving into 2019.

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