Tag: Gulf of America

Chevron Raises Exploration Spending by 50% as It Returns to Frontier Basins, Prioritizing Geopolitical Diversification Away from Key Chokepoints

Clark Savage29

Chevron is sharply increasing its exploration budget by roughly 50%, targeting more than $1.5 billion in 2026 compared with just under $1 billion in 2025. The move, driven by Vice President of Exploration Kevin McLachlan (recruited from TotalEnergies), marks a deliberate return to high-impact frontier basins after years of heavier focus on the U.S. Gulf […]

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Foreign Buyers and Private Equity Positioned to Drive a Fourth-Quarter Upstream M and A

Clark Savage587

U.S. upstream oil and gas mergers and acquisitions are showing renewed momentum heading into the fourth quarter of 2026, with foreign strategic buyers and private equity sponsors emerging as key potential catalysts for a late-year surge. After volatility tied to geopolitical events earlier in the year tempered activity, dealmaking rebounded in the third quarter, and […]

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US Weekly Rig Operator Report

Clark Savage2289

Week Ending May 8, 2026 U.S. Rig Count Edges Higher for Third Straight Week The Baker Hughes U.S. rotary rig count rose by 1 rig to 548 for the week ending May 8, 2026. Here is the Full WellDatabase Weekly Report We recommend getting a Subscription at WellDatabase! This marks the third consecutive weekly increase […]

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Chevron Reports Strong Q1 2026 Earnings Beat Amid Geopolitical Volatility and Temporary Hedging Charges

Clark Savage1868

Chevron Corporation (NYSE: CVX) delivered a solid first-quarter performance, beating analyst expectations on adjusted earnings per share despite a year-over-year decline in reported profits, ongoing Middle East disruptions tied to the Iran conflict, and significant one-time timing effects from financial hedges. The results highlight the resilience of Chevron’s diversified portfolio, record U.S. production growth, and […]

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