Fort Worth, Texas-based U.S. Energy Development Corporation (USEDC) said it has acquired approximately 20,000 net acres in Reeves and Ward Counties, Texas, expanding its total Permian Basin holdings.

Chevron began employing triple-frac for the first time in the Permian in March last year. This year the company plans to use it on 50% to 60% of its wells in the basin, up from 20% last year ...

The Permian Basin accounts for nearly 40% of all oil production and nearly 15% of natural gas production in the U.S., according to the Federal Reserve Bank of Dallas. It spans more than 86,000 ...

Chevron (NYSE:CVX) plans to increase the use of a technique known as "triple-frac," in which it fractures subterranean rock in three wells at a time in the Permian basin, in an effort to cut the ...