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Major E&P to Ramp Up Drilling & Frac Activity in 4Q, Frac Crews, Rigs
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Chevron Corp. will be ramping up frac and drilling operations as it enters the fourth quarter of 2021.
Chevron CFO Pierre Breber commented: "You will see us increase capital in the fourth quarter just to get to that $12 billion to $13 billion because we're at $8.1 billion through third quarters. And you'll see that in the Permian, 2 more rigs, 2 more completion crews.
"We'll have higher activity levels at Tengiz. We're going to maintain peak manpower through the winter. And then activity tends to be back-loaded so -- back-end loaded. So we have some project milestone payments, we have exploration wells that we'll be drilling in the fourth quarter."
Chevron Permian Basin Frac Spread Activity
Chevron Permian Basin Rig Activity
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