Chevron Scales Up Triple-Frac Technology in Permian for Big Gains

Chevron Corporation (CVX) has planned to double down on innovation in the Permian Basin by scaling up its use of “triple-frac” technology. The technique will enable the company to fracture subterranean rock in three wells simultaneously, resulting in a reduction in the cost and time required to produce oil. After testing the method in March last year, CVX now plans to deploy it across 50% to 60% of its wells in 2025, a major jump from just 20% last year. With the use of this technology, it expects to grow o ...