Bloomberg: Chevron seeking buyers for $1B in U.S. assets

Chevron (CVX +1.1%) is seeking to sell pipeline and storage operations in Texas and Louisiana that together may fetch more than $1B, Bloomberg reports.

CVX is said to be working with Jefferies to sell the West Texas LPG Pipeline, a natural gas pipeline 20% owned by Atlas Pipeline Partners (APL -0.2%), and is seeking buyers for a gas storage facility in West Texas, a crude oil terminal close to the Gulf of Mexico, and at least one of its pipelines in Louisiana.

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Comments (1)
  • Michael Fitzsimmons
    , contributor
    Comments (11642) | Send Message
    Too bad CVX doesn't have an MLP like Phillips66 has (PSXP). If it did, these are the type assets it could drop-down and get some tax-advantaged distributions. That said, as a CVX shareholder, I'm glad to see them trimming the edges of the portfolio to concentrate on high return projects, like the Gulf of Mexico:

    17 Jan 2014, 07:48 PM Reply Like
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