20 september 2022 | Trades | CEOs

Chevron’s minority stakes in three Alaskan oilfields are up for sale

Chevron Corp is selling its stakes in more than 2,000 oil and gas wells in Alaska. This could be the second time a major oil company has exited from oil extraction in the state in the past three decades.

The company has officially confirmed that it offers stakes in three oil fields. The company's interest in Alaska's Endicott field, Kuparuk field and Prudhoe Bay is around 10%, 5%, and  1.2% respectively. The contenders should submit the bids by the end of this month. The stakes refer to non-operating interests that provide a share of profits.

According to Chevron estimates, the value of the proven and developed portion of these assets is $655 million. Considering future developments, they may be worth $926 million. These conclusions were made based on a marketing plan released by the company. 

According to an analyst at Norwegian company Rystad Energy, the sale price of stakes may vary from from $450 to $550 million, given the current oil prices. 

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