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Chevron Announces Sale of Majority Interest in its East Texas Gas Assets

1. Chevron sold a 70% interest in East Texas gas assets for $525 million. 2. The sale includes $75 million in cash and $450 million as capital carry.

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FAQ

Why Bullish?

The transaction indicates Chevron's strategic divestment and focus on key areas. Historically, similar divestments have led to enhanced operational efficiency and improved stock performance.

How important is it?

The asset sale is significant for Chevron's portfolio restructuring, which directly impacts financial health and investor sentiment.

Why Long Term?

This sale could enhance Chevron's focus on profitable ventures, strengthening its financial position long-term. Past sales of non-core assets have often resulted in improved company valuations.

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TGNRTOKYOCCI
HOUSTON--(BUSINESS WIRE)--Chevron U.S.A. Inc., a subsidiary of Chevron Corporation (“Chevron”) (NYSE: CVX), announced that it has closed on a transaction to sell a 70% interest in its East Texas gas assets to an affiliate of TG Natural Resources LLC (“TGNR”), a company indirectly owned by Tokyo Gas Co., Ltd. (“Tokyo Gas”) and Castleton Commodities International LLC (“CCI”), for $525 million, with $75 million paid in cash and $450 million as a capital carry to fund Haynesville development. Chevr.

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