acquisitions and divestitures
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The acquisition and divesture deal includes large-interest positions in nine offshore exploration blocks, several of which Shell may become the operator of. -
The latest updates on the North American shale sector’s efforts to consolidate and restructure.
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The announcements are part of the company’s divestment strategy to reduce debt and improve capital.
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Chevron strengthens its North American position with assets in the Permian, DJ, and Eagle Ford basins and offshore in Israel and West Africa.
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Nearly everything’s on the table as companies aim to shore up portfolios by curtailing investments and dumping low-priority assets.
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Aramco’s acquisition of SABIC positions the company as a major global petrochemical player.
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Centennial said in its 10-Q report for Q1 that the economic downturn increased the likelihood that the transaction would fail to close by its original timeline.
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The sale of the Appalachia position is in line with Shell’s strategy to focus on its shales strategy.
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The move to combine forces comes amid the fastest contraction in drilling activity the US shale sector has ever seen while Gyrodata will retain its international business.
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The deal is part of the company’s divestment program targeting proceeds of $5 to 10 billion between 2018 and 2020.
