More divestment news from today. Chevron has divested its whole operating interests in 2 oil producing assets in the Neuquen Basin located in Argentina. The deal is in line with Chevron's plan to divest $10 billion in assets during 2016-2017. All of this recent divestment news, in addition to JW being replaced (retiring) is probably the reason for the stock price increase.
8 replies (most recent on top)
Chevron will not divest Australia LNG as long as there is an Asian market.
Not much difference from the Australian LNG ventures, now that these probably have a high breakeven cost anyway, so Chevron should sell their stake and put the money elsewhere in the United States.
Wood Mac says the fields were probably had a high breakeven cost anyway, so Chevron may not have been able to make money off of them. I actually agree with some of the divestments - if you're not going to produce it you might as well divest it and do something else with a return.
https://www.woodmac.com/media-centre/12533060
fzp - but Chevron is perfect, isn't it??
That's what we keep hearing from the buttnose, s---wood chevroids on here.
These assets are having to be sold due to incompetence not the price of oil. Losses on angola were 1 billion a month for over a year. I can only imagine what the numbers are on Gorgonzola and wetstone
Dividend Energy exists as long as there’s financial ability to sustain it. Chevron is not the government. We don’t have a money printing press in the basement.
Dividend Energy....
Average oil prices are not yet high enough. Non strategic assets being divested because Chevron is scavenging for money to pay the damn dividend.