Market Chatter: Chevron Plans to Up Drilling Rigs in Argentina's El Trapial Block to 3 From 1

MT newswire2026/10/23 17:16

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01:16 PM EDT, 10/23/2026 (MT Newswires) -- Chevron (CVX) plans to increase the number of drilling rigs it has in the El Trapial block in Argentina to three from one by early 2029, Reuters reported Friday, citing a company executive. Over the long term, the US oil producer is working to secure government approval for its plan to spend $13.8 billion over 30 years to increase production there, the report said, citing company officials. Chevron didn't immediately reply to a request for comment from MT Newswires. (Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.) Price: 232.50, Change: +5.82, Percent Change: +2.57

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