article thumbnail

Chevron to acquire Anadarko in $33B deal; shale and tight, deepwater, LNG

Green Car Congress

Chevron Corporation entered into a definitive agreement with Anadarko Petroleum Corporation to acquire all of the outstanding shares of Anadarko in a stock and cash transaction valued at $33 billion, or $65 per share. This transaction builds strength on strength for Chevron. in cash for each Anadarko share.

Chevron 186
article thumbnail

Chevron sells 30% stake in Canadian Duvernay shale play to Kuwait Foreign Petroleum for $1.5B

Green Car Congress

Chevron Corporation’s indirect, wholly-owned subsidiary, Chevron Canada Limited, has reached an agreement to sell a 30% interest in its Duvernay shale play to Kuwait Foreign Petroleum Exploration Company’s wholly-owned subsidiary, KUFPEC Canada Inc., million cubic feet of natural gas and 1,300 barrels of condensate per day.

Kuwait 210
article thumbnail

Benchmark: Saudi Arabia is building an EV battery supply chain

Green Car Congress

It will sell the lithium spodumene concentrate to the JV at a “reduced rate” with a floor price of $3,000 a tonne and a ceiling price of $7,000 a tonne over the life of the current resource of the Wolfsberg mine. Spodumene prices are currently around $3,650 a tonne, according to Benchmark’s Lithium Price Assessment.

article thumbnail

Chevron leveraging information technology to optimize thermal production of heavy oil with increased recovery and reduced costs

Green Car Congress

Chevron’s focus on optimizing the thermal management of the Kern River field has resulted in a steady drop in the steam:oil ratio (barrels steam water per barrel oil), resulting in improved economics of the field even with slowly declining production. Source: Chevron. Here, Chevron has reduced its steam:oil ratio (i.e.,

Chevron 244
article thumbnail

With oil prices low, early signs of a pullback in drilling activity

Green Car Congress

With oil prices low and showing no sign of an immediate rebound, the industry is beginning to pull back on spending. Oil prices have dropped around 30 percent since summer highs, raising fears among producers across the globe. In other words, lower oil prices hurt demand for Transocean’s drilling rigs.

article thumbnail

GlobalData: best performing wells in Permian break-even at as low as US$22 per barrel

Green Car Congress

A GlobalData analysis of recent wells for 26 operators in the Permian basin indicates a break-even oil price range from US$21 to US$48 per barrel with lateral lengths ranging from 4,500 ft to 10,500 ft. On 25 June, the price of a 42-gallon barrel of West Texas Intermediate Crude (WTI) was $68.08.

Oil 236
article thumbnail

NREL/Chevron team characterizes chemical composition and properties of renewable diesels derived from FT, hydrotreating, and fermentation of sugar

Green Car Congress

A team from the US National Renewable Energy Laboratory (NREL) and Chevron Corporation has examined the chemical composition and properties of several diesel fuels and blendstocks derived from Fischer?Tropsch Tropsch (FT) synthesis, hydroisomerization of lipids, and fermentation of sugar via the terpenoid metabolic pathway.

Chevron 231