By Arathy S Nair and Shariq Khan
(Reuters) – Chevron Corp (NYSE:) is looking to sell two collections of conventional oil and gas fields in the Permian Basin valued at more than $1 billion combined, three sources told Reuters.
The company has retained an investment bank to market Permian oil and gas fields valued at $879 million, and has additional assets of more than $200 million available for sale elsewhere in the basin, the sources said.
The company did not immediately respond to requests for comment.
Chevron is the latest oil major looking to shed assets in the largest U.S. oilfield, the Permian Basin.
Chevron has been evaluating other assets in the Permian and elsewhere, one of the people said, and could divest older assets over the year as it looks to boost investments in energy transition.
Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.