August 2011, Vol. 238 No. 8

In The News

Chevron Taking Measured Approach To Shale Gas

Chevron, the second-largest U.S. oil company, added 228,000 acres in the Marcellus shale in May to follow up on its $3.2 billion acquisition of Atlas Energy, which gave Chevron its first big stake in the northeastern field. “You’re not going to see Chevron – I can’t speak for others – just shift the whole business into shale, and let other things go,” Bobby Ryan, Chevron’s vice president for global exploration, told the Reuters Global Energy and Climate Summit. He said Chevron’s focus areas remained the Gulf of Mexico, West Africa and western Australia, which were all part of a “balanced portfolio” approach to explorati

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