Chevron (CVX) Stock Near $203 After Fresh Breakthrough
TLDR
- Chevron stock closed at $202.70 on August 17, up 1.35% for the session.
- Chevron reported a new oil and gas condensate discovery offshore Angola at the 105-4X exploration well.
- The well encountered a hydrocarbon column of more than 2,000 feet, with over 300 feet of net pay.
- Chevron announced a strategic collaboration with TGS to develop next-generation seismic imaging technology.
- The company recently posted $12 billion in quarterly net income, while adjusted earnings reached $6.06 per share.
Chevron (CVX) stock moved higher after the company reported a new offshore Angola discovery and announced a seismic imaging partnership with TGS. Shares closed at $202.70 on August 17, 2026, up 1.35%, as investors assessed fresh growth projects alongside strong recent earnings.
Oil prices also remained firm across markets.
Chevron Stock Gains After Angola Discovery
Chevron reported an oil and gas condensate discovery at the 105-4X exploration well in Block 0 offshore Angola. The well sits in the Lower Congo Basin, where Chevron has operated for more than 70 years.
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