Chevron said an advantaged portfolio supported by the Permian basin underlies its expectation of strong production growth with lower execution risk, cash flow growth, and disciplined spending over the next 5 years. Chevron is among a group of oil and gas companies looking to increase Permian activity. Most recently, ExxonMobil announced plans to increase its Permian basin production to 1 million boe/d by as early as 2024.

Source: News