What Makes Chevron's Gulf of America Oil Bet So Compelling
Behind the numbers is a broader strategic shift. Chevron is combining decades of operational experience with new technologies to unlock deepwater resources more efficiently. Whale, for example, leverages a simplified facility design and energy-efficient systems to reduce emissions and cost per barrel. Similarly, the high-pressure Anchor platform — operational since August 2024 — is built to handle extreme conditions, with a resource base estimated at 440 million barrels of oil-equivalent. Together, these assets represent some of Chevron's highest-margin, lowest-carbon barrels globally.
This push isn't just about drilling more — it's about drilling smarter. Chevron's updated project models are helping it reduce costs, increase efficiency, and extend the life of its fields. For instance, the Tahiti platform, which has been producing since 2009, has since crossed 500 million barrels and could continue operating into the 2040s. Backed by more efficient designs and low-carbon intensity output, Chevron's Gulf operations are positioned to remain a strong, high-margin part of its portfolio.
Some Other Supermajors Active in the GoA
Europe's largest energy major Shell plc SHEL is the largest operator in the GoA, known for pioneering deepwater oil and gas production. Its operations — like Perdido, Vito, Whale, and the upcoming Sparta — showcase advanced, cost-efficient technology. With lower-than-average emissions and a 40% cut in methane since 2016, Shell is pairing innovation with sustainability in one of the world's most challenging offshore environments. Shell continues to lead with standardized designs, robotics and efficient subsea systems, keeping safety and environmental performance at the core of its offshore strategy.
Continental rival BP plc BP is also one of the top oil producers in the GoA, operating major hubs, including Atlantis, Mad Dog and Thunder Horse. With $7 billion in investments through 2025, BP aims to exceed 400,000 BOE/d in production from the region by the end of the decade. BP is also unlocking deep resources through projects like Kaskida, using smart, replicable platform designs for future expansion.
CVX's Price Performance, Valuation and Estimates
Shares of Chevron have lost more than 6% in the past year.
From a valuation standpoint, Chevron's forward 12-month P/E multiple stands at over 19X.
The Zacks Consensus Estimate for 2025 and 2026 EPS has moved up 4% and 1%, respectively, in the past 30 days.
Image Source: Zacks Investment Research
The stock currently carries a Zacks Rank #3 (Hold).
You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.
Zacks' Research Chief Names "Stock Most Likely to Double"
Our team of experts has just released the 5 stocks with the greatest probability of gaining +100% or more in the coming months. Of those 5, Director of Research Sheraz Mian highlights the one stock set to climb highest.
This top pick is a little-known satellite-based communications firm. Space is projected to become a trillion dollar industry, and this company's customer base is growing fast. Analysts have forecasted a major revenue breakout in 2025. Of course, all our elite picks aren't winners but this one could far surpass earlier Zacks' Stocks Set to Double like Hims & Hers Health, which shot up +209%.
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