Chevron Considers Divesting Texas Gas Holdings to Tokyo Gas for $1B [Yahoo! Finance]
TOKYO GAS CO LTD UNSP/ADR (TKGSY)
NASDAQ:AMEX Investor Relations:
tokyo-gas.co.jp/ir/english/library/earn_e.html
Company Research
Source: Yahoo! Finance
Chevron Corporation CVX, a prominent player in the global energy market, has been engaged in discussions to sell its east Texas natural gas assets to Tokyo Gas. This move will significantly impact both companies, particularly as Tokyo Gas aims to enhance its foothold in the rich U.S. natural gas reserves. The ongoing negotiations, which have spanned several months, revolve around CVX's substantial portfolio in the Haynesville shale, a prolific gas-producing area which extends across Texas and Louisiana. Haynesville Shale: A Treasure Trove of Natural Gas The Haynesville shale is renowned for its rich natural gas reserves. CVX's portfolio covers approximately 72,000 acres of predominantly undeveloped land within this area. Although the exact volume of gas the land may yield is not immediately clear, estimates suggest this could be considerable, given the region's geological characteristics. The potential transaction, which can be valued at up to $1 billion, highlights the high stak
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- Tokyo Gas Shares Jump Most Since 1987 After Elliott Report [Yahoo! Finance Canada]Yahoo! Finance Canada