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Chevron reviewing options for East Texas assets after shale acquisitions
Chevron Corp said it is evaluating options for around 70,000 net acres of land in East Texas’ Haynesville shale formation after pausing development earlier this year, with sources saying a full sale is one option under consideration. The move would be a small first step by the energy major which is seeking to offload assets worth up to $15 billion over the next five years following its recent multi-billion dollar acquisitions of more than 700,000 acres in U.S. shale assets. Chevron last month said it would enter the Bakken basin of North Dakota with a $53 billion acquisition of Hess Corp. In August, it concluded ... (full story)