Chevron Dry Hole Expense increased by 17.6% to $80.00M in Q4 2025 compared to the prior quarter. Year-over-year, this metric declined by 60.8%, from $204.00M to $80.00M. Over 4 years (FY 2021 to FY 2025), Dry Hole Expense shows an upward trend with a 28.8% CAGR. This increase may warrant attention — for this metric, lower values are generally preferred.
A decrease is generally positive as it suggests higher exploration success rates, whereas an increase indicates higher risk or inefficient capital allocation in exploration.
This represents the costs associated with exploration activities that failed to yield commercially viable quantities of...
Common among upstream energy companies; peers report this as 'Exploration Expense' or 'Dry Hole Costs'.
cf_cvx_dry_hole_expense| Q2 '21 | Q3 '21 | Q4 '21 | Q1 '22 | Q2 '22 | Q3 '22 | Q4 '22 | Q1 '23 | Q2 '23 | Q3 '23 | Q4 '23 | Q1 '24 | Q2 '24 | Q3 '24 | Q4 '24 | Q1 '25 | Q2 '25 | Q3 '25 | Q4 '25 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Value | $15.00M | $36.00M | $63.00M | $135.00M | $99.00M | $21.00M | $231.00M | $105.00M | $38.00M | $172.00M | $121.00M | $28.00M | $181.00M | $16.00M | $204.00M | $112.00M | $65.00M | $68.00M | $80.00M |
| QoQ Change | — | +140.0% | +75.0% | +114.3% | -26.7% | -78.8% | >999% | -54.5% | -63.8% | +352.6% | -29.7% | -76.9% | +546.4% | -91.2% | >999% | -45.1% | -42.0% | +4.6% | +17.6% |
| YoY Change | — | — | — | — | +560.0% | -41.7% | +266.7% | -22.2% | -61.6% | +719.0% | -47.6% | -73.3% | +376.3% | -90.7% | +68.6% | +300.0% | -64.1% | +325.0% | -60.8% |
We use cookies for analytics. See our Privacy and Cookie Policy.