Chevron Stock Plummets 7.57% with $2.852 Billion in Trading Volume Ranking 26th in Daily Market

On April 10, 2025, Chevron (CVX) experienced a significant decline, with its stock price dropping by 7.57%. The trading volume for the day was substantial, with a total transaction value of $2.852 billion, placing it at the 26th position in the daily market rankings.

Chevron has announced plans to implement the "triple-frac" technique in the Permian Basin, aiming to fracture subterranean rock in three wells simultaneously. This method is expected to reduce the time required to complete each well and bring them to production by 25%. The company intends to apply this technique to 50% to 60% of its wells in the basin, which will not only cut costs but also enhance operational efficiency.

Chevron's decision to ramp up the use of the triple-frac technique is part of a broader strategy to optimize its operations in the Permian Basin. By fracturing three wells at once, the company can complete each well and bring them to production in 25% less time, which translates to significant cost savings and increased productivity. This move is expected to have a positive impact on Chevron's upstream operations and overall profitability.