Cheap natural gas helps Chevron leapfrog Shell in value

Chevron Corp, after years of living in the shadow of Exxon Mobil Corp, has grown accustomed to having to punch above its weight, and it has now landed a notable blow against another big oil company.

Though it ranks fourth in oil and gas reserves among the world’s non-government-controlled producers, the California major recently seized the number two spot from Royal Dutch Shell Plc in terms of stock market valuation.