ChevronTexaco plans to sell more than 100 North American producing properties

ChevronTexaco Corp.'s North America Upstream unit announced Wednesday it plans to sell more than 100 producing properties throughout North America. The company's net share of production from the properties 25,000 boe/d.

April 23, 2003

By OGJ editors

HOUSTON, Apr. 22 -- ChevronTexaco Corp.'s North America Upstream unit announced Wednesday it plans to sell more than 100 producing properties throughout North America. The company's net share of production from the properties 25,000 boe/d.

The properties primarily are in California, Texas, Louisiana, Oklahoma, Wyoming, and Alberta. Multiple regional packages will be offered beginning this month, with bids due at various times through August.

The company expects to complete the sale of all properties by the end of the third quarter.

"This offer of sale is part of ChevronTexaco's ongoing portfolio optimization program and is designed to improve operating efficiency and position the company for the right balance of future growth and returns," said Ray Wilcox, president of ChevronTexaco North America Upstream.