NEW YORK, May 25 (Reuters): Chevron Corp is making the oil-rich Permian shale formation a top investment priority, aiming to turn its West Texas acreage into one of its top five assets by 2020, Vice Chairman George Kirkland said in an interview.
The move is a return home of sorts for the second-largest US oil company, which has operated in the Permian since the 1920s. But until now, it has been slow to follow rivals in West Texas who over the last five years have deployed new techniques to recover previously unreachable oil.
"We have such a good acreage position and we're looking for a high production over a long period of time, Kirkland said.
Chevron sees Permian shale play as one of top 5 assets by 2020
FE Team | Published: May 26, 2014 00:00:00 | Updated: November 30, 2026 06:01:00
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