Preheat your oven to 350°F and prepare a 9-inch loaf pan by greasing with cooking spray or lining with parchment paper.
In a large mixing bowl, use a hand mixer or whisk to cream together the butter, oil, and sugar until well combined (about 1 minute).
Add the flour, milk, vanilla extract, and salt, and vigorously whisk or use your hand mixer on high to combine. At this point, your batter may not be completely smooth.
Add your eggs and beat with your hand mixer or whisk just until combined.
Set a handful of chocolate chips aside, and use a spatula to fold the rest into the batter.
Transfer your batter to your prepared loaf pan and sprinkle the remaining chocolate chips on top.
Bake on the bottom rack for 85-95 minutes or until a toothpick comes out clean. Allow your chocolate chip loaf cake to cool completely before slicing into it and enjoying!