Chevron looking to sell some Permian Basin oil and gas properties Reuters (NYSE:CVX)
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Chevron (NYSE:CVX) is offering to sell several oil and gas properties in the Permian Basin valued at a combined ~$100M, Reuters reported Thursday, citing marketing documents.
Chevron (CVX) has been looking to divest properties in New Mexico and west Texas, where it is the largest publicly traded oil and gas producer and the largest property owner with 2.2M acres.
Citing listings on the EnergyNet online auction site, Chevron (CVX) launched an auction for a parcel covering 2,134 net acres in New Mexico and a second covering 29,901 acres in New Mexico and west Texas, with production at the larger parcel on offer estimated at 770K barrels of oil and gas net and the smaller parcel estimated at 1,818 boe/day.
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