Chevron to sell some Permian assets valued at more than $1 billion -sources​ By Reuters

Chevron to sell some Permian assets valued at more than $1 billion -sources​ By Reuters

© Reuters. FILE PHOTO: The logo of Chevron Corp is seen in its booth at Gastech, the world’s biggest expo for the gas industry, in Chiba, Japan April 4, 2017. REUTERS/Toru Hanai/File Photo

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.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

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.

Source link

Leave a comment

Send a Comment

Your email address will not be published.

Enter text shown below: