Chevron to sell shallow-water GOM assets

As part of the company’s efforts to streamline its operations, Chevron is putting its shallow-water Gulf of Mexico (GOM) acreage up for sale and will focus on its deepwater GOM projects, according to Fuel Fix.

The divestments will begin this year and are expected to be completed by the end of 2017. Fuel Fix noted that Chevron is targeting between $5 billion and $10 billion in asset sales globally by the end of 2017.

The GOM divestments will include 27 oil and gas fields that produce about 46,000 barrels of oil equivalent a day. Tudor, Pickering, Holt & Co. expects that Chevron could collect more than $1 billion from these sales.

Did You Like this Article? Get All the Energy Industry News Delivered to Your Inbox

Subscribe to an email newsletter today at no cost and receive the latest news and information.

 Subscribe Now


Making DDoS Mitigation Part of Your Incident Response Plan: Critical Steps and Best Practices

Like a new virulent strain of flu, the impact of a distributed denial of service (DDoS) attack is...

The Multi-Tax Challenge of Managing Excise Tax and Sales Tax

To be able to accurately calculate multiple tax types, companies must be prepared to continually ...

Operational Analytics in the Power Industry

Cloud computing, smart grids, and other technologies are changing transmission and distribution. ...

Maximizing Operational Excellence

In a recent survey conducted by PennEnergy Research, 70% of surveyed energy industry professional...