New oil and gas extraction technique saves time and money in the Permian Basin

After the oil and gas industry began using hydraulic fracturing in shale plays, it took less than 20 years for the U.S. to go from a net importer of oil to a net exporter of oil.

“Without hydraulic fracturing, we would not be energy independent right now in the U.S.,” said Jeff Newhook, a general manager of drilling and completions engineering supporting Chevron’s Permian Basin operations.

Now, Chevron is employing an evolution of the technique to hydraulically fracture three wells at once, called triple-frac. In 2024, the company began taking this approach in the Permian Basin. That year, it completed approximately 25 percent of its wells this way.

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Source: Permian Proud

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