Chevron has agreed to sell 70% interest in its East Texas gas assets for $525 million, as part of the U.S. energy company's strategy to optimize its portfolio.
TG Natural Resources LLC (TGNR), co-owned by Tokyo Gas and Castleton Commodities International, has bought a 70% stake in the east Texas gas assets from Chevron for $525 million, the company said on Tuesday, as it expands its U.S. gas business.
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With crude oil prices rising to over $70 a barrel again, the energy sector has been the best-performing subsector of the S&P 500 this year.
Japan's biggest city gas provider Tokyo Gas will buy a stake in a shale gas development in Texas from U.S. energy giant Chevron in a deal estimated to be worth tens of billions of yen, the Nikkei reported on Tuesday.
Chevron Corporation is targeting 6% annual production growth, focusing on Gulf of America and international projects, with a significant push towards growth in natural gas. The company plans to expand gas power production, partnering with hyperscalers to support the growing data center footprint, aiming for 1GW of power capacity by 2027-2028. Chevron's acquisition of Hess is under arbitration, with potential impacts on its stake in Stabroek assets; management remains optimistic about closing by Q3 2025.
EOG, FANG, XOM and CVX are well-positioned to benefit from the Permian Basin's ongoing expansion, making them must-watch for energy-focused investors.
Recently, Zacks.com users have been paying close attention to Chevron (CVX). This makes it worthwhile to examine what the stock has in store.
While many baby boomers have enjoyed a long bull market over the past 35 years, there is a point when income becomes more critical than stock appreciation.
Crude oil prices have slumped about 15% over the past year. That has pushed West Texas Intermediate (WTI), the primary U.S. oil price benchmark, below $70 a barrel.
Warren Buffett, the CEO of Berkshire Hathaway, is followed with almost religious zeal on Wall Street. When he openly backs a company, it often leads others to buy that stock without question.
As market uncertainty and volatility increase, investor sentiment is shifting. Defensive and value-oriented sectors are beginning to outperform, while high-growth areas, particularly technology, semiconductors, and AI—have come under pressure.