Bloomberg: Chevron exploring options for U.S. midstream business


Chevron (CVX +0.2%) is reviewing options for its U.S. midstream business including a possible sale of some or all of the unit, Bloomberg reports.

Jefferies is said to be working with CVX in a review of the unit which manages pipelines and other infrastructure for handling oil and gas between wells and refineries.

A precise valuation for the assets is difficult to reach because the market for such assets is volatile and CVX hasn’t disclosed specific financial details, according to the report.

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Comments (8)
  • BAHAMAS1
    , contributor
    Comments (5132) | Send Message
     
    Good start for CVX to start unleashing some of their internal assets.
    Maybe this could lead to spinoffs of other businesses, like their petrochemical biz.

     

    Imo,This would make CVX more profitable and leaner for a precision focus on earnings and continued Growth and profitability.
    25 Feb 2014, 09:49 AM Reply Like
  • FleetUSA3226
    , contributor
    Comments (874) | Send Message
     
    Mr. Watson is catching COP fever.
    25 Feb 2014, 09:49 AM Reply Like
  • Michael Fitzsimmons
    , contributor
    Comments (11029) | Send Message
     
    Good action! I was beginning to worry a bit after the last couple quarters, but it looks like we won't have to worry that CVX could turn into another XOM.
    25 Feb 2014, 10:19 AM Reply Like
  • sbecker75
    , contributor
    Comments (4) | Send Message
     
    What ever came of the free pizza debacle in Pennsylvania? That was a bone-headed move.
    25 Feb 2014, 10:48 AM Reply Like
  • dutchduke
    , contributor
    Comments (58) | Send Message
     
    Why are they using Jefferies? Strange. Anyway, could be a great move for CVX
    25 Feb 2014, 11:06 AM Reply Like
  • FleetUSA3226
    , contributor
    Comments (874) | Send Message
     
    I had the same thought. These big boys typically deal with Goldman, etc.
    25 Feb 2014, 11:35 AM Reply Like
  • BAHAMAS1
    , contributor
    Comments (5132) | Send Message
     
    Jeffries' fees are lower.

     

    Better for shareholders !

     

    GO CVX !
    25 Feb 2014, 11:51 AM Reply Like
  • smurf
    , contributor
    Comments (6171) | Send Message
     
    Great company.
    25 Feb 2014, 05:03 PM Reply Like
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