The US$6.5 billion all-cash transaction has an effective date of 1 September 2024, and is expected to close during 4Q24, subject to regulatory approvals and other customary closing conditions.
The assets subject to the agreement contributed 84 000 boe/d of production, net of royalties, to Chevron in 2023. This transaction progresses Chevron’s previously announced plans to divest US$10-15 billion in assets by 2028 to optimise its global energy portfolio.
