Chevron to sell Permian Basin holdings


An estimated $100 million in oil and gas properties owned by Chevron in New Mexico and Texas will soon be up for sale.

The land in question, involving 2.2 million acres, is mostly in the Permian Baskin of West Texas and southeast New Mexico. Chevron is the largely publicly-traded oil and gas producer in the two states and is making the sale offer following major shale acquisitions reported Reuters.

Bids on the property will be due at the end of July.

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