Deal insight

Chevron acquires 228,000 net Marcellus Shale acres in southwest Pennsylvania from Chief Oil & Gas and Tug Hill

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Report summary

Chevron has announced the acquisition of 228 000 net acres in the Marcellus Shale from Chief Oil & Gas and Tug Hill. For Chevron the deal is all about building on the position it gained through the February 2010 acquisition of Atlas Energy. The Chief acreage located in southwest Pennsylvania is contiguous with the Atlas portfolio and adds a further 5 tcf of gas to Chevron's long term resource base.The parties did not disclose the consideration but analysis of comparable ...

What's included

This report contains

  • Document

    Chevron acquires 228,000 net Marcellus Shale acres in southwest Pennsylvania from Chief Oil & Gas and Tug Hill

    PDF 1.57 MB

Table of contents

  • Executive summary
  • Upstream assets
  • Deal analysis
  • Upsides and risks
  • Strategic rationale
  • Oil & gas pricing and assumptions

Tables and charts

This report includes 8 images and tables including:

Images

  • Chief acreage in southwest PA
  • Wood Mackenzie NPV sensitivities under drilling upside scenarios of Plus 25% and Plus 50%
  • 1) Wood Mackenzie NPV estimates and 2) Comparable transaction metric based implied cost

Tables

  • Upsides and risks: Table 1
  • Oil & gas pricing and assumptions: Table 1
  • Oil & gas pricing and assumptions: Table 2
  • Deal analysis: Table 1
  • Deal analysis: Table 2

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