Chevron has upped its Permian Basin resource estimate to more than 21 billion barrels of oil equivalent, more than double the company’s estimate just three years ago, its top executives said Tuesday. The company’s 2017 resource estimate for the basin, the largest source of oil output in the US and a significant source of natural gas, was 9 million boe, Jay Johnson, Chevron’s executive vice president of exploration and production, said in webcast remarks at the company’s annual Security Analyst Meeting in New York. And the major expects to take final investment decisions on two 2018 deepwater discoveries in 2021 and 2022, Johnson […]