November 2, 2018 / 1:04 PM / 12 days ago

Chevron quarterly profit doubles as U.S. oil production jumps

Nov 2 (Reuters) - U.S. oil and natural gas producer Chevron Corp said on Friday its quarterly profit doubled as record oil and gas production helped overcome a series of one-time items.

The company posted third-quarter net income of $4.05 billion, or $2.11 a share, compared with $1.95 billion, or $1.03 per share, in the same quarter a year earlier. Analysts were looking for the company to report $2.06 per share profit, according to IBES data on Refinitiv.

Production rose to 2.96 million barrels of oil equivalent per day (boed) from 2.72 million boed a year ago. (Reporting by Gary McWilliams; Editing by Jeffrey Benkoe)

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