After cutting spending on cutting-edge exploration and focusing on nearby drilling for many years, Chevron set out again to search for oil and gas resources in remote, undeveloped regions. The second-largest oil giant in the US now has plenty of cash flow. The conflict in Iran caused historic turmoil in the energy market, and oil prices soared, driving the company's profits to soar. Kevin MacLachlan, who is leading this exploration business, is a senior Canadian oil and gas exploration expert. Chevron took him from Total Energy, a French energy company that has always excelled at operating in remote areas where many American companies are deterred. McLachlan joined Chevron last year to promote exploration operations in Africa, South America, and the Eastern Mediterranean to be developed. MacLachlan said that currently half of the company's exploration capital is invested in the Frontier Basin, compared to only about 20% a few years ago. The company aims to drill up to 20 exploration wells each year, and about half of these are targeting new blocks that are expected to grow into major development projects. The company also uses seismic imaging technology with greatly improved accuracy and artificial intelligence tools to sort out 100 years of geological data and target potential oil and gas concentration areas.

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