Exxon Mobil Corporation (XOM): No One Is Better at Finding Oil and Gas Than Chevron Corporation (CVX)

While that discovery is about half the size of the one that ConocoPhillips (NYSE:COP) and Anadarko Petroleum Corporation (NYSE:APC) announced just a week before Chevron’s, it is still massive. It’s also just one of Chevron’s success stories in discovering major oil and gas deposits in the Gulf over the past few years. Best of all, some of those projects are just starting to bear fruit. For example, its Big Foot field is expected to produce 75,000 barrels of oil and about 25 million cubic feet of natural gas per day at a total project cost of more than $4 billion. That one field equates to about 10% of the current oil production of the lauded Bakken shale. It’s just one of the many projects Chevron is working to bring online even as it continues to discover new sources of oil.

Chevron does one thing really, really well, and that’s discovering new sources of oil and gas to feed the world’s voracious energy appetite. That success is giving the company increasing confidence that it can increase its daily production by 25% by 2017. What that means is that the money it spends on exploration really should start to pay off for investors over the next few years.

The article No One Is Better at Finding Oil and Gas Than Chevron originally appeared on Fool.com and is written by Matthew DiLallo.

Fool contributor Matt DiLallo owns shares of ConocoPhillips. The Motley Fool recommends Chevron.

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