Oil producer Chevron on Wednesday said it plans to raise capital expenditures in the Permian basin by 25% in 2024 from its annual guidance despite a more modest rig count plan for the largest U.S. unconventional basin.
U.S. energy firms this week added oil and natural gas rigs for the first time in four weeks, energy services firm Baker Hughes Co said in its closely followed report on Friday.
Rising U.S. natural gas export demand combined with a stagnating rig count suggests the gas shortage will grow. Read what this means for AR stock here.
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