Coterra Energy Reverses Permian Slowdown

In a shift that reflects renewed confidence in the oil market, Coterra Energy CEO Tom Jorden announced the company will maintain nine active rigs in the Permian Basin, backing away from previously announced plans to scale down operations. This update, shared during the J.P. Morgan Energy, Power & Renewables Conference, comes as macro conditions stabilize and crude price outlooks improve.

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Chevron Bets Big on Lithium in the Smackover Formation

Chevron U.S.A. Inc., a subsidiary of Chevron Corporation (NYSE: CVX), has made a major move into the critical minerals space with the acquisition of 125,000 net acres in the Smackover Formation of Northeast Texas and Southwest Arkansas. The deal, involving TerraVolta Resources and East Texas Natural Resources (ETNR), positions Chevron as a key player in the growing U.S. domestic lithium supply chain.

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