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The Zacks Analyst Blog Highlights EOG Resources, ExxonMobil, Diamondback Energy and Chevron
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For Immediate Release
Chicago, IL – October 20, 2026 – Zacks.com announces the list of stocks featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. Stocks recently featured in the blog include: EOG Resources (EOG - Free Report) , ExxonMobil Holdings (XOM - Free Report) , Diamondback Energy (FANG - Free Report) and Chevron (CVX - Free Report) .
Here are highlights from Monday’s Analyst Blog:
4 Permian Oil Stocks Riding Production and Efficiency Gains
The Permian Basin remains a key driver of U.S. oil production, supported by technological advancements, improving drilling efficiencies and extensive infrastructure. Its proximity to Gulf Coast refining and export facilities further enhances its strategic importance. Leading producers, including EOG Resources, ExxonMobil Holdings, Diamondback Energy and Chevron, continue to strengthen their operations in the region, focusing on production growth, cost reductions and cash flow generation.
Spanning West Texas and southeastern New Mexico, the Permian Basin continues to benefit from advances in horizontal drilling, longer laterals and improved well-completion techniques. These developments are enabling operators to boost productivity while maintaining capital discipline. The latest quarterly results from major producers highlight the basin's continued importance to U.S. energy production.
4 Energy Companies Leveraging the Permian's Potential
EOG Resources continues to perform well in the Delaware Basin, benefiting from faster drilling and improved infrastructure. During the first half of 2026, the company increased its daily drilling activity by 13%, while the length of horizontal wells completed per day rose 5%. These improvements helped lower drilling and completion costs by $15 per foot to less than $710 per foot. EOG's Janus gas processing plant, which can handle 300 million cubic feet of natural gas daily, operated at more than 99% capacity utilization during the first half of the year. The plant also helped the company earn 65 cents more per thousand cubic feet of gas processed. For 2026, EOG expects oil production to grow 5% and total production to increase 14% across its operations.
ExxonMobil continues to expand its Permian operations following the acquisition of Pioneer Natural Resources. The company's production in the region reached a record of more than 1.8 million barrels of oil equivalent per day in the second quarter of 2026. ExxonMobil is using advanced drilling technologies and longer horizontal wells to extract more oil while reducing costs. During the first half of 2026, the company drilled more than 80 wells, each with a horizontal section extending four miles, using real-time monitoring and remote operations to improve efficiency. ExxonMobil aims to increase its Permian production by 9% annually through 2030.
Diamondback Energy remains a leading oil producer in the Permian Basin, focusing on reducing costs and improving well productivity. The company has kept drilling, well-completion and equipment costs at approximately $550 per foot in the Midland Basin. Its strategy of developing multiple oil-producing layers helps it recover more resources and improve returns while keeping costs competitive. Diamondback expects to generate approximately $7.8 billion in free cash flow in 2026, supported by its efficient operations and disciplined capital spending. The company has also doubled its share buyback authorization to $16 billion, highlighting its commitment to returning cash to shareholders.
Chevron continues to prioritize efficiency and cash flow generation in the Permian Basin after achieving its production milestone of 1 million barrels of oil equivalent per day in 2025. The company reported record Permian production in the second quarter of 2026. Chevron expects capital expenditure per barrel of oil equivalent across its U.S. shale and tight operations to decline 25% in 2026 compared with 2025. The company also achieved $3 billion in annualized structural cost reductions across its business, six months ahead of schedule, reinforcing its emphasis on operational efficiency and capital discipline.
The Bottom Line
The Permian Basin remains central to U.S. oil production, with leading operators focusing on higher recoveries, lower development costs and disciplined investments. EOG Resources, ExxonMobil, Diamondback Energy and Chevron are leveraging their extensive asset positions and operating efficiencies to support production and cash flow, making them important energy stocks for investors to monitor.
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Since 2000, our top stock-picking strategies have blown away the S&P's +7.7% average gain per year. Amazingly, they soared with average gains of +48.4%, +50.2% and +56.7% per year.
Today you can access their live picks without cost or obligation.
Past performance is no guarantee of future results. Inherent in any investment is the potential for loss. This material is being provided for informational purposes only and nothing herein constitutes investment, legal, accounting or tax advice, or a recommendation to buy, sell or hold a security. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. It should not be assumed that any investments in securities, companies, sectors or markets identified and described were or will be profitable. All information is current as of the date of herein and is subject to change without notice. Any views or opinions expressed may not reflect those of the firm as a whole. Zacks Investment Research does not engage in investment banking, market making or asset management activities of any securities. These returns are from hypothetical portfolios consisting of stocks with Zacks Rank = 1 that were rebalanced monthly with zero transaction costs. These are not the returns of actual portfolios of stocks. The S&P 500 is an unmanaged index. Visit https://www.zacks.com/performance for information about the performance numbers displayed in this press release.
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The Zacks Analyst Blog Highlights EOG Resources, ExxonMobil, Diamondback Energy and Chevron
For Immediate Release
Chicago, IL – October 20, 2026 – Zacks.com announces the list of stocks featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. Stocks recently featured in the blog include: EOG Resources (EOG - Free Report) , ExxonMobil Holdings (XOM - Free Report) , Diamondback Energy (FANG - Free Report) and Chevron (CVX - Free Report) .
Here are highlights from Monday’s Analyst Blog:
4 Permian Oil Stocks Riding Production and Efficiency Gains
The Permian Basin remains a key driver of U.S. oil production, supported by technological advancements, improving drilling efficiencies and extensive infrastructure. Its proximity to Gulf Coast refining and export facilities further enhances its strategic importance. Leading producers, including EOG Resources, ExxonMobil Holdings, Diamondback Energy and Chevron, continue to strengthen their operations in the region, focusing on production growth, cost reductions and cash flow generation.
Spanning West Texas and southeastern New Mexico, the Permian Basin continues to benefit from advances in horizontal drilling, longer laterals and improved well-completion techniques. These developments are enabling operators to boost productivity while maintaining capital discipline. The latest quarterly results from major producers highlight the basin's continued importance to U.S. energy production.
4 Energy Companies Leveraging the Permian's Potential
EOG Resources continues to perform well in the Delaware Basin, benefiting from faster drilling and improved infrastructure. During the first half of 2026, the company increased its daily drilling activity by 13%, while the length of horizontal wells completed per day rose 5%. These improvements helped lower drilling and completion costs by $15 per foot to less than $710 per foot. EOG's Janus gas processing plant, which can handle 300 million cubic feet of natural gas daily, operated at more than 99% capacity utilization during the first half of the year. The plant also helped the company earn 65 cents more per thousand cubic feet of gas processed. For 2026, EOG expects oil production to grow 5% and total production to increase 14% across its operations.
ExxonMobil continues to expand its Permian operations following the acquisition of Pioneer Natural Resources. The company's production in the region reached a record of more than 1.8 million barrels of oil equivalent per day in the second quarter of 2026. ExxonMobil is using advanced drilling technologies and longer horizontal wells to extract more oil while reducing costs. During the first half of 2026, the company drilled more than 80 wells, each with a horizontal section extending four miles, using real-time monitoring and remote operations to improve efficiency. ExxonMobil aims to increase its Permian production by 9% annually through 2030.
Diamondback Energy remains a leading oil producer in the Permian Basin, focusing on reducing costs and improving well productivity. The company has kept drilling, well-completion and equipment costs at approximately $550 per foot in the Midland Basin. Its strategy of developing multiple oil-producing layers helps it recover more resources and improve returns while keeping costs competitive. Diamondback expects to generate approximately $7.8 billion in free cash flow in 2026, supported by its efficient operations and disciplined capital spending. The company has also doubled its share buyback authorization to $16 billion, highlighting its commitment to returning cash to shareholders.
Chevron continues to prioritize efficiency and cash flow generation in the Permian Basin after achieving its production milestone of 1 million barrels of oil equivalent per day in 2025. The company reported record Permian production in the second quarter of 2026. Chevron expects capital expenditure per barrel of oil equivalent across its U.S. shale and tight operations to decline 25% in 2026 compared with 2025. The company also achieved $3 billion in annualized structural cost reductions across its business, six months ahead of schedule, reinforcing its emphasis on operational efficiency and capital discipline.
The Bottom Line
The Permian Basin remains central to U.S. oil production, with leading operators focusing on higher recoveries, lower development costs and disciplined investments. EOG Resources, ExxonMobil, Diamondback Energy and Chevron are leveraging their extensive asset positions and operating efficiencies to support production and cash flow, making them important energy stocks for investors to monitor.
Why Haven't You Looked at Zacks' Top Stocks?
Since 2000, our top stock-picking strategies have blown away the S&P's +7.7% average gain per year. Amazingly, they soared with average gains of +48.4%, +50.2% and +56.7% per year.
Today you can access their live picks without cost or obligation.
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Past performance is no guarantee of future results. Inherent in any investment is the potential for loss. This material is being provided for informational purposes only and nothing herein constitutes investment, legal, accounting or tax advice, or a recommendation to buy, sell or hold a security. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. It should not be assumed that any investments in securities, companies, sectors or markets identified and described were or will be profitable. All information is current as of the date of herein and is subject to change without notice. Any views or opinions expressed may not reflect those of the firm as a whole. Zacks Investment Research does not engage in investment banking, market making or asset management activities of any securities. These returns are from hypothetical portfolios consisting of stocks with Zacks Rank = 1 that were rebalanced monthly with zero transaction costs. These are not the returns of actual portfolios of stocks. The S&P 500 is an unmanaged index. Visit https://www.zacks.com/performance for information about the performance numbers displayed in this press release.