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Chevron's (CVX +0.2%) part in of Chesapeake’s (CHK +0.1%) $6.9B land sale in the Permian...

Chevron's (CVX +0.2%) part in of Chesapeake’s (CHK +0.1%) $6.9B land sale in the Permian Basin isn’t a surprise to Tudor Pickering considering the oil giant’s presence there already, but it’s "somewhat surprising" Shell (RDS.A -0.2%) is involved, as it has "not much, if any, Permian exposure currently."
Comments (2)
  • No Sympathy
    , contributor
    Comments (34) | Send Message
     
    Perhaps Shell is buying the company piecemeal?
    12 Sep 2012, 05:00 PM Reply Like
  • rv3lynn
    , contributor
    Comments (411) | Send Message
     
    A couple of oil booms ago the majors spent lots of profits buying leases.

     

    They did nothing.

     

    Now they are again spending their profits buying leases. They must do something with profits!

     

    They will write these leases off also.

     

    RDS is clueless in the Permian.
    13 Sep 2012, 12:38 AM Reply Like
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