Chevron New Energies, a division of Chevron U.S.A. Inc., announced it is developing a 5-megawatt hydrogen production project in California’s Central Valley.
Chairman and chief executive officer Mike Wirth and his team are forecasting that California-based Chevron will exit this year with Permian production of about 900,000 boe/d, a figure projected to grow to 1 million boe/d in 2025. Driving that “strong momentum,” they said, is work to build the company’s inventory of drilled-but-uncompleted (DUC) wells and the planned addition of a fourth fracturing crew to go with its 12 rigs in the basin.
Chevron delivered a record 867,000 barrels per day (bpd) in the fourth quarter and, after a first-half dip in output, aims to pump about 900,000 bpd by year-end and reach 1 million bpd by 2025.
Chevron 2024 plan related to oil & gas
Chevron Corporation (NYSE: CVX) announced today that it has entered into a definitive agreement with Hess Corporation (NYSE: HES) to acquire all of the outstanding shares of Hess in an all-stock transaction valued at $53 billion, or $171 per share based on Chevron’s closing price on October 20, 2023.
Chevron U.S.A. Inc., through its Chevron New Energies division, has closed a transaction with Haddington Ventures to acquire 100% of Magnum Development, LLC
Vaquero Midstream is an independent, large-scale rich gas gathering and processing business that traverses the core of the Southern Delaware Basin buys facilities from Chevron
Chevrom generated revenues of $48.9 billion in Q2 2023. Chevron’s oil and gas production in the Permian Basin, the top U.S. shale field, hit 772,000 barrels a day.
ExxonMobil Corp. and Chevron Corp. are both on course to grow production from the Permian basin by 10% this year, more than double the rate of their smaller rivals.
Chevron has announced that it achieved record production levels in the shale-rich Permian Basin region during the second quarter.
