Chevron: new acquisition in shale gas
Chevron to acquire additional oil assets in southern Pennsylvania, an area rich in shale gas.
U.S. oil giant will recover from Chief Oil & Gas and Tug Hill area of 92 hectares on the site says 'Marcellus' under a contract of property walls ('leasehold').
The terms of the transaction, expected to be finalized before the end of the second quarter, were not disclosed.
'This opportunity is part of our strategy to acquire assets at the beginning of life cycle showing potential for organic growth over the long term', said George Kirkland, Chevron's vice chairman.
Over the past year, Chevron bought hundreds of thousands of hectares of assets in areas rich in shale gas, whether the United States, Canada, Poland or Romania.