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Title : Another Amazing Energy Story; The Chevron Story -- November 2, 2018
link : Another Amazing Energy Story; The Chevron Story -- November 2, 2018

Another Amazing Energy Story; The Chevron Story -- November 2, 2018

First, from twitter:

Now, the article linked at Platts, data points --

• attributes increased production to well design tweaks; high-density fracks -- the same stuff being used in the Bakken
• Chevron's Permian output rises to 338,000 boepd
• Chevron USGC oil export capacity will triple -- not double -- but triple in early 2019 -- in early 2019? That's like two months from now ....
• Chevron's production surged 80% yoy
• reminder: memo to Art Berman who famously said, "shale is not a revolution, it's a retirement party"-- and he's a self-described oil expert
• Chevron's play in West Texas / eastern New Mexico: the Midland (eastern) and the Delaware (western) sub-basins
• 338,000 boepd is the equivalent of adding a midsized Permian pure-play E&P company in a matter of months
• CEO: "we're operating off a new basis of design and finding that has been incredibly successful
• and just think: Colorado voters may pass Proposition 112 and drive the oil industry out of their state; 
• Chevron said a couple of years ago it would ramp up to 20 rigs in the Permian; they now have 20 rigs in the Permian, and will probably stay at that level
• and, then get this, something we've said for seven years on the blog: "I think over time, we're going to try to move what we consider to be a critical performance metric away from just rigs to something that would be a better efficiency measure." Perhaps EURs?

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