The deal will add about 18 per cent to Chevron’s total reserves and bring it new acreage Colorado and Wyoming’s DJ Basin and the shale-rich Permian Basin in Texas and New Mexico, as well as in Israel and Equatorial Guinea. — Justin Sullivan/Getty Images North America via AFP pic
The deal will add about 18 per cent to Chevron’s total reserves and bring it new acreage Colorado and Wyoming’s DJ Basin and the shale-rich Permian Basin in Texas and New Mexico, as well as in Israel and Equatorial Guinea. “This is a cost-effective opportunity for Chevron to acquire additional proved reserves and resources.”
Since then, oil prices have recovered somewhat, with US benchmark contract West Texas Intermediate now around US$40 a barrel.
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