Occidental Petroleum and its affiliate 1PointFive remain gung-ho on DAC technology, but one Wall Street analyst from Wells Fargo isn’t drinking all the DAC Kool-Aid yet, for several reasons.
Chevron’s $53 billion acquisition of Hess Corp. will concentrate the California major even further in upstream oil and gas production the part of its portfolio where Chevron sees the most future upside.
Following Exxon Mobil’s nearly $60 billion deal to buy Pioneer Natural Resources, pipeline companies await consolidation and potential production boosts.