Chevron has sold last if shelf assets

Companies the size of Chevron aren't selling deepwater assets.

Good company and good group of folks. Hopefully they maintain jobs either with Chevron or Cantium.

Most Chevron employees working the assets that were sold to Cantium are being absorbed by the new company. (Or at least have been or will be given the option). Cantium has a very aggressive plan to recycle capital generated from the fields back into the development of BM and MP. Cantium needs good people to execute the business plan. Cantium plans to be very active with assets they believe still has a lot of meat left on the bone.

Thanks for the clarification, you sound close to the matter.

Y'all hiring?

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GREENHEAD22

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Y'all hiring?

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stealin my thunder brotha

Wonder if this means anything for HOS.

I tried to find their website, guess I will have to look again.

So what is Chevron going to do with the office? It was my understanding that the only thing they were still running out of it was the shelf stuff.

That seems a little low but with P&A cost they were probably looking at I am sure they were looking to offload it to anyone.

You really want to see a hell of a steal look what APC got from Freeport for dirt cheap.

The article you linked does not represent the price paid for the aggregate of the fields. BM, MP 41 & MP 299 et all fields make 16,000+ BOPD with minimal activity in 2+ yrs. lots of easy PDNP work overs, low risk PUDs, dump floods etc. There is a significant amount of ARO/P&A but the assets are very cash positive/ generative. More companies than you would think made a play at attempting to acquire these fields.