Chevron Corp. has completed its previously announced acquisition of PDC Energy Inc.’s 275,000-acre positions in the Denver-Julesburg Basin (D-J Basin) and 25,000 net acres in the Delaware Basin, the company said in an Aug. 7 press release. (Source: Shutterstock.com)
Chevron Corp. has completed its previously announced acquisition of PDC Energy Inc.’s 275,000-acre positions in the Denver-Julesburg Basin (D-J Basin) and 25,000 net acres in the Delaware Basin, the company said in an Aug. 7 press release.
The acquired assets include acreage positions adjacent to the company’s existing operations in the D-J Basin and will add more than 1 Bboe proved reserves. The deal also adds PDC’s 25,000 net acres in the Permian Basin’s Delaware, which are HBP, according to the release.
Bruce Niemeyer, Chevron’s president for America’s Exploration & Production said Chevron welcomes PDC Energy into the fold.
“Our companies have similar cultures, with a focus on safe and reliable operations, teaming to deliver results, and benefiting the communities where we operate. PDC’s high-quality assets open up even greater opportunities in important U.S. basins where Chevron already has a strong presence,” Niemeyer said.
Recommended Reading
New Fortress Makes Headway on $2.7B Debt Refinancing
2024-11-26 - New Fortress Energy Inc. anticipates raising approximately $325 million in gross proceeds through the refinancing.
Berry Closes Debt Refinancing to Uphold Growth Commitments
2024-12-26 - Berry Corp. closed a debt refinancing agreement to continue its corporate strategy of promoting scale and diversification.
Kimmeridge Texas Gas Prices $500MM in Senior Notes Offering
2025-01-09 - Kimmeridge Texas Gas said the senior unsecured notes will be used to repay a portion of outstanding revolver borrowings and support the buildout of the company.
Not Sweating DeepSeek: Exxon, Chevron Plow Ahead on Data Center Power
2025-02-02 - The launch of the energy-efficient DeepSeek chatbot roiled tech and power markets in late January. But supermajors Exxon Mobil and Chevron continue to field intense demand for data-center power supply, driven by AI technology customers.
Chevron Targets Up to $8B in Free Cash Flow Growth Next Year, CEO Says
2025-01-08 - The No. 2 U.S. oil producer expects results to benefit from the start of new or expanded oil production projects in Kazakhstan, U.S. shale and the offshore U.S. Gulf of Mexico.
Comments
Add new comment
This conversation is moderated according to Hart Energy community rules. Please read the rules before joining the discussion. If you’re experiencing any technical problems, please contact our customer care team.