Chevron to sell Eagle Ford. Nobile’s Denver basin is next. Then the Permian. You don’t need the overhead of a major corporation to factory drill shallow wells. The question is where will the moneys be reinvested?
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I can say for a fact numerous fields and entire field office teams are being sold in the Permian right now or are being put up for sale. It is no secret that all mature fields in the Permian Basin are on the block along with all the older gas plants. If your not working in or directly supporting a growth field, you should be worried. MCBU management is making very little effect to keep employees and it has gotten extremely toxic on the operations teams due to little information and job opportunities.
As a verified Tree Hugger and Owl Lover, I know there are lots of Owls in Taft. I used to work at CVX. As Chevron pivots to new Technologies like the plants in El Segundo I see a future of Jets and Space Rockets hurtling around our planet based on plant food while Astronauts consume plant based food on missions to Mars. Cars will do nothing more than burp pure air. What a world!
Before people say stuff is not for sale you may want to do some digging and check into it. There are a lot of open record systems out there you just have to take the time to find it. Anyways it is shocking what all CVX has for sale.
Everything is for sale. The only question is expected profit over time vs sale price times returns on alternative investment. Majors do best on big investment - big payout opportunities, whereas minors do better on lowering the cost of low risk production. It is only a matter of time before someone pays more for any given mature unconventional than Chevron’s estimated value.
Not a surprise. EF is past prime and even established companies are trying to get out.
The DJ is not for sale. Fake news. Quit trying to stir up discontent you troll.
Then the Permian?? What did you smoke?
If DJ is safe, KD must be the next on the selling list. What keeps us from selling it?
The DJ is a cash cow. There will be no selling any time soon.
No the acreage was too small to hold it for EF and it was expected to sell some of the legacy Noble assets. I do not think DJ basin would be on market anytime soon given the size and scale of production, it is possible some other assets on the exploration side of legacy Noble in Africa or South America would be next.
Sell it all!
Buy high sell low is the JJ way. Gorgon, Wheatstone, AMBU… he’s been the the decision executive on all of the best flops of the last 15 years.
Buy High sell low