Watson

If and when John Watson decides to step down as chairman and CEO of Chevron Corp., he would be leaving the company in better financial shape than it was a year ago and with a bigger focus on the Permian Basin, now its No. 1 U.S. onshore prospect.

Chevron Corp.’s John Watson, chairman and CEO since 2010, who has led the company’s ramp-up in the Permian Basin, plans to step down next month, according to reports.

Chevron Corp. sowed a second consecutive quarterly profit in the last three months of 2016 following sharp cost containment and a modest price rebound, but earnings still came in well below Wall Street consensus.

Chevron CEO John Watson said Monday the downturn in the oil and gas industry is going to persist through the next year, with more difficult times ahead, as operators readjust.

Wyoming’s oil and natural gas sector is ready to grow, particularly on the oil side, with the increase in horizontal drilling and hydraulic fracturing (fracking), the state’s chief energy regulator told NGI’s Shale Daily on Wednesday.