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Chevron (NYSE:CVX) is weighing options for ~70K net acres of land in east Texas’ Haynesville shale after pausing development earlier this year, Reuters reported Tuesday.
Among the options under consideration is a full sale of the Haynesville assets or partnerships with other producers in the region, according to the report, which added that the company has informed some potential buyers of its plans to market the assets early next year.
The acreage – much of it undeveloped – likely will be valued in the low hundreds of millions of dollars, the report said.
The move would be a small first step for Chevron (CVX) as it seeks to sell assets worth as much as $15B over the next five years following its recent multibillion dollar acquisitions of more than 700K acres in U.S. shale assets.