Gorgon is the country’s most notably single-resource natural gas project and features the largest natural gas projects globally.
In 2006, the Western Australia government allowed Chevron to develop the Gorgon liquefied natural gas facility on Barrow Island, provided that CO2 from the gas produced offshore would be buried under the island using all practicable means.
Over the five-year period that ended in July, an estimated 15.3 million metric tons of CO2 from the offshore gas fields flowed to Barrow Island, only 32% of which was buried.
Headquartered in San Ramon, CA, Chevron is one of the largest publicly-traded oil and gas companies.
Some other top-ranked players in the energy space are Occidental Petroleum Corporation OXY and PDC Energy PDCE, each currently sporting a Zacks Rank #1 , and SM Energy Company SM, carrying a Zacks Rank #2.
As of 2020-end, Occidental Petroleum’s preliminary worldwide proved reserves totaled 2.91 billion BOE compared with 3.9 billion BOE at the end of 2019.
In the third quarter, OXY achieved the planned divestiture target of $10 billion by entering a deal to sell its interest in two offshore Ghana assets for $750 million.
PDC Energy is an independent upstream operator that engages in the exploration, development and production of natural gas, crude oil and natural gas liquids.
PDCEbeat the Zacks Consensus Estimate in all of the last four quarters, ending with an earnings surprise of 51.06%, on average.
It engages in the exploration, exploitation, development, acquisition, and production of natural gas and crude oil in North America.
The upstream energy player beat the Zacks Consensus Estimate thrice in the last four quarters and missed once, ending with an earnings surprise of 126.3%, on average.
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