Chevron Corporation

Good morning. My name is Katie, and I will be your conference facilitator today. Welcome to Chevron's first quarter 2022 earnings conference call. At this time, all participants are in a listen-only mode. After the speaker's remarks, there will be a question and answer session, and instructions will be given at that time. If anyone should require assistance during the conference call, please press star and then zero on your touchtone telephone. As a reminder, this conference call is being recorded. I will now turn the conference call over to General Manager of Investor Relations of Chevron Corporation, Mr. Roderick Green. Please go ahead.

Thank you, Katie. Welcome to Chevron's first quarter 2022 earnings conference call and webcast. I'm Roderick Green, GM of Investor Relations. Our Chairman and CEO, Mike Worth, and CFO, Pierre Brever, are on the call with me. We will refer to the slides and prepared remarks that are available on Chevron's website. Before we begin, Please be reminded that this presentation contains estimates, projections, and other forward-looking statements. Please review the cautionary statement on slide two. Now, I'll turn it over to Mike.

All right. Thanks, Roderick. Before we turn to first quarter results, I'd like to recognize the people of Ukraine. Our hearts go out to those affected by this tragedy, and we hope for a prompt and enduring diplomatic resolution. The last two years have been volatile and unpredictable, driven by the global pandemic and geopolitical conflict, creating strains on economies and markets around the world. Through it all, our objectives have been clear and consistent. And in the first quarter, we continued to make progress, delivering book returns in the mid-teens, investing to grow both our traditional and new energy businesses, and returning even more cash to shareholders while maintaining an industry-leading balance sheet. Recent events remind us of the importance of energy. Looking forward, I know that Chevron is doing its part, raising this year's Permian production outlook and advancing two important renewable fuel transactions, our Bungie JV, which is expected to close shortly, and the Renewable Energy Group acquisition, which is expected to close around mid-year. While the future is uncertain, our actions are not. We're on a path to delivering higher returns and lower carbon, and rewarding our stakeholders all along the way. With that, I'll turn it over to Pierre to discuss our financials.