Replies to post #22587 on The Rising Influence of Rising Affluence

[semi_infinite]

Looks like a decent deal for both. NBL was skating on thin ice and CVX has the strength to take on the oil/gas price risk. IMO East Med gas position is the prize. Recent court ruling on clean air rules in Weld county should not be a big deal as Noble switches to electricity for running drilling and other operations in Co. Negligible overlap so no need for asset sales post merger.

[DewDiligence]

Iraq is back on the map for—(smallish)—oil deals:

https://www.wsj.com/articles/chevron-pursues-exploration-deal-in-iraq-11597677403

[DewDiligence]

CVX sells Appalachian Basin upstream/midstream assets to EQT for $735M:

https://finance.yahoo.com/news/eqt-announces-acquisition-chevrons-appalachia-200500303.html

• Current net production of approximately 450 MMcfe per day; 75% gas / 25% liquids
• Approximately 100 work-in-progress wells
• Approximately 125,000 core net Marcellus acres; 335,000 total net Marcellus acres
• 31% ownership interest in Laurel Mountain Midstream
• Two water systems and associated infrastructure located in PA and WV