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TG Natural Resources Acquires Majority Stake in Chevron's East Texas Gas Assets, Strengthening Leadership in the Haynesville Play

1. TGNR acquired a 70% stake in Chevron's East Texas gas assets for $525 million. 2. This transaction may enhance Chevron’s capital focus on Haynesville development.

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+0.73%Current Return
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+0.28%S&P 500
$167.2903/31 09:19 PM EDTEvent Start
$168.5104/02 03:28 AM EDTLatest Updated
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FAQ

Why Bullish?

The sale may improve Chevron's liquidity and shift capital focus, potentially increasing future earnings. Historical precedent shows that asset sales can streamline operations and enhance stock performance.

How important is it?

Increased strategic focus on profitable assets can directly influence CVX's market position and investor sentiment.

Why Short Term?

The effect on CVX's stock price is likely to manifest soon following strategic realignment.

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

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