Stock Market & Financial Investment News

News Breaks September 12, 2012 07:02 EDT CHK, RDS, A, RDS.B, CVX Chesapeake to sell Permian, Midstream, other assets for $6.9B Chesapeake Energy Corporation (CHK) has entered into multiple agreements to sell the vast majority of its Permian properties, substantially all of its midstream assets and certain noncore leasehold for total net cash proceeds of approximately $6.9B. The company will use a portion of the proceeds from these asset sales to fully repay its $4B of term loans during Q4. Chesapeake has entered into purchase and sale agreements with three companies covering the vast majority of its Permian Basin assets for total net proceeds of approximately $3.3B. Chesapeake has entered into a purchase and sale agreement to sell its assets in the southern Delaware Basin portion of the Permian Basin to SWEPI LP, a subsidiary of Royal Dutch Shell plc (RDS.A). Additionally, Chesapeake has entered into a purchase and sale agreement to sell its assets in the northern Delaware Basin portion of the Permian Basin to Chevron U.S.A. (CVX). As previously announced, the company has entered into a purchase and sale agreement to sell its producing assets in the Midland Basin portion of the Permian Basin to affiliates of Houston-based EnerVest, Ltd. Chesapeake is retaining approximately 470,000 net acres of undeveloped leasehold in the Midland Basin for future sale or development. Chesapeake expects to close all three transactions within the next 30 days and to receive approximately 87% of the proceeds in cash at closing. Payment of the remaining proceeds will be subject to certain title, environmental and other standard contingencies. News For B;CVX From The Last 14 Days Check below for free stories on B;CVX the last two weeks. Sign up for a free trial to see the rest of the stories you've been missing. May 20, 2013 08:08 EDT CVX EU to review fracking concerns, Reuters reports Environmental concerns over the practice of hydraulic fracturing to get at shale gas will be on the EU's agenda this year, EU Energy Commissioner Guenther Oettinger told the German newspaper Die Welt, reports Reuters. Reference Link 05:40 EDT CVX U.S. oil futures rally as many commodities decline, WSJ reports Subscribe for More Information May 16, 2013 06:03 EDT CVX YPF, Chevron agree to terms of Argentina shale investment, Reuters reports Subscribe for More Information May 15, 2013 18:31 EDT CVX Ecopetrol submits highest bids for three exploratory blocks in Brazil Ecopetrol (EC) announces that it submitted the highest bids for three exploratory blocks in the 11th bidding round carried out yesterday by the ANP of Brazil in Rio de Janeiro. Ecopetrol has a 100% interest in the highest bids for the POT-M-567 and FZA-M-320 blocks and a 50% interest in the highest bid for the CE-M-715 block, which it submitted with Chevron (CVX) Brasil Ventures. The three blocks comprise an area of approximately 1,862 sq kilometers in the Potiguar, Foz de Amazonas and Ceara offshore basins. 08:38 EDT CVX WTI crude falls for a fith consecutive day, Bloomberg reports Subscribe for More Information May 14, 2013 16:00 EDT CVX Options Update; May 14, 2013 Subscribe for More Information 07:23 EDT B Oppenheimer to host a summit Subscribe for More Information 07:10 EDT CVX IEA says North American oil will dominate world supply growth, WSJ reports Subscribe for More Information May 9, 2013 14:21 EDT CVX Chevron entitled to damages after U.S. violated pacts, Bloomberg reports The U.S. Court of Claims ruled that Chevron is entitled to unspecified damages after the Department of Energy violated agreements governing determination of equity interests in oil and gas deposits in California, reported Bloomberg, citing a ruling made public yesterday. Reference Link 11:26 EDT CVX Chevron wins suit alleging Energy Department broke terms of deal, Bloomberg says Court rules Chevron entitled to unspecified damages, according to Bloomberg. May 7, 2013 18:33 EDT CVX Statoil sanctions Julia field development in Gulf of Mexico Subscribe for More Information 09:27 EDT CVX Seadrill Partners acquires the tender rig T15 for $210M Subscribe for More Information Sign up for a free trial to see the rest of the stories you've been missing.