Chevron decides to sell Hess Midstream stake and DJ Basin assets
CVX Chevron Corp
$207.58 +0.54%
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- 1Chevron has agreed to sell its stake in Hess Midstream and its DJ Basin crude midstream assets.
- 2The transaction is expected to reduce Chevron's Bakken area midstream costs by approximately 50% and generate $200 million in cash.
- 3Chevron plans to address approximately $3.7 billion in Hess Midstream debt that will be removed from its financial statements.
So what's the key point?
Chevron has decided to sell some of its business assets and stakes. This decision will bring in $200 million in cash and help reduce debt.
Source Oilprice.com +1 · View original ↗
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