Chevron Corporation (CVX) Secures Texas Pacific Land Support on Microsoft’s Project Kilby

Chevron Corporation (NYSE:CVX) is one of the best stocks to buy now for good returns. On June 23, Chevron Corporation (NYSE:CVX) selected Texas Pacific Land Corporation to provide land and brackish water resources for its Project Kilby.

Project Kilby is a massive $7 billion initiative by Chevron Corporation (NYSE:CVX) and Microsoft to construct a 2.67 gigawatt natural gas-fired power facility in West Texas. TPL has agreed to provide surface acreage in exchange for cash consideration and the exclusive right to source aquifer-derived water for the power generation facility.

Chevron has already made it clear that water stewardship and community engagement are central considerations on the proposed Project Kilby. Consequently, TPL is tasked with providing brackish groundwater to help reduce demand for freshwater resources. It will also provide advanced solutions for the reuse of desalinated produced water from oil and gas operations.

“This project demonstrates how large-scale energy infrastructure can be developed responsibly in West Texas to meet the increasing demands for power and technology,” said Daniel Droog, Vice President, Power Solutions of Chevron.

Chevron Corporation (NYSE:CVX) is a global, integrated energy company. It explores for, produces, and refines crude oil and natural gas, and markets fuels, lubricants, and petrochemicals. Additionally, the company invests in lower-carbon energy solutions and renewable technologies.

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