Chevron Corp is looking to sell its oil and gas assets in the Eagle Ford Basin in south Texas, according to sources familiar with the matter and a marketing document seen by Reuters.
FILE PHOTO: A Chevron gas station sign is seen in Del Mar, California, April 25, 2013. REUTERS/Mike Blake/File Photo/File Photois looking to sell its oil and gas assets in the Eagle Ford Basin in south Texas, according to sources familiar with the matter and a marketing document seen by Reuters.
Including undeveloped inventory, the assets could be valued as high as $3.8 billion at those prices, according to the document. U.S. crude prices were trading at around $69.5 a barrel on Friday, while natural gas was around $4.69 per million British thermal units. Chevron, which plans to resume share buybacks in the current quarter, stepped up its sales program in June by marketing two collections of conventional oil and gas fields in the Permian Basin, together valued at more than $1 billion.
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