Chevron Corporation

Good morning. My name is Katie, and I will be your conference facilitator today. Welcome to Chevron's third quarter 2026 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 requires assistance during the conference call, please press star then zero on your touchtone telephone. As a reminder, this conference call is being recorded. I will now turn the conference call over to the Head of Investor Relations of Chevron Corporation, Jeanine Wai. Please go ahead.

Thank you, Katie. Welcome to Chevron's third quarter of 2026 earnings conference call and webcast. I'm Jeanine Wai, Head of Investor Relations. Our Chairman and CEO, Mike Wirth, Vice Chairman, Mark Nelson, and CFO, Eimear Bonner, are all on the call with me today. We'll 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. A reconciliation of non-GAAP measures can be found in the appendix of this presentation. Please review the cautionary statement and additional information presented on slide two. I'll now turn it over to Mike.

Thanks, Jeanine. Chevron delivered another quarter of outstanding operational performance and disciplined execution, reliably supplying the energy the world needs. In the U.S., upstream production was more than 2 million barrels of oil equivalent per day for the fifth consecutive quarter. We achieved record crude throughput in our refining system, helping meet demand in supply-constrained markets. We also continued investing to develop future energy supply. We announced a discovery in Angola within Tyvek range of Chevron-operated facilities, providing an opportunity for short-cycle, capital-efficient development. Our joint venture with Bungie completed commissioning of a Louisiana oil seed processing plant on schedule Providing additional feedstock for Chevron's leading U.S. biofuels business. We expanded our acreage and established new fiscal terms in Venezuela. And we recently announced an expected 50% reduction in Bakken midstream tariffs that expands economic inventory and competitiveness. Chevron is well positioned to deliver more energy today and well into the future. Venezuela will be part of that story. We have deep on-the-ground expertise built over our 100-year history there. With new fiscal terms, Venezuela is now more competitive within our portfolio and immediately accretive and free cash flow positive. Last month, we announced plans to double production for our three joint ventures to roughly 600,000 barrels of oil per day, all on primary recovery by 2031. This development program will be self-funding and could extend further into the 2030s, underpinned by billions of barrels of resource. Total costs are expected to be under $20 per barrel with competitive investment returns and no major upgrades are needed as infrastructure has been well maintained. Shepard Markets 100% of accrued from the three ventures with the majority going to U.S. refineries including Pascagoula and El Segundo adding to domestic product supply. We'll look to capture additional value as we optimize product flows across our system. and we're on track to reach around 300,000 barrels of oil per day of gross production by year end, up 20% over the last 12 months. Now I'll turn it over to Mark to discuss our operational achievements. Thanks, Mike.