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By Sabrina Valle
Dec 6 (Reuters) - Oil major Chevron Corp CVX.N said on Wednesday that it expects 2024 capital expenditure between $18.5 billion and $19.5 billion in 2024, a 11% increased compared to this year.
The company expects total capital expenditures to rise to between $19 billion and $22 billion following the proposed acquisition of U.S. rival Hess Corp HES.N closes year.
Of the total, about $5 billion will be devoted to its fast-growing Permian shale production operation, and another $1.5 billion on other shale and tight oil business.
The increases reflect its acquisition of PDC Energy earlier this year.
(Reporting by Arunima Kumar in Bengaluru and Sabrina Vale in Houston; Editing by Shailesh Kuber)
((Arunima.Kumar@thomsonreuters.com; Twitter: https://twitter.com/Aru_Kumar94 ;))