Deal Insight
Chevron exits upstream Colombia with sale to Hocol
*Please note that this report only includes an Excel data file if this is indicated in "What's included" below
Report summary
Ecopetrol subsidiary, Hocol, is to acquire a 43% operated stake from Chevron in two gas assets in Colombia. Ecopetrol already holds 57% of the Guajira area assets. The transaction includes the large offshore Chuchupa field and the smaller onshore Ballena field, both located in the Guajira area. Exiting non-core countries has become a growing theme for Chevron as its retrenchment to its core areas continues. The sale marks the company's third country exit in a month, following sales in Azerbaijan and the Philippines, and its 11th country exit since 2014. The company will emerge from its high-grading drive with the most focused upstream portfolio of any Major.
Table of contents
- Executive summary
- Transaction details
- Upstream assets
- Deal analysis
- Upsides and risks
- Strategic rationale
- Oil & gas pricing and assumptions
Tables and charts
This report includes the following images and tables:
- Executive summary: Table 1
- Upstream assets: Table 1
- Deal analysis: Table 1
- Deal analysis: Table 2
- Oil & gas pricing and assumptions: Table 1
- Oil & gas pricing and assumptions: Table 2
What's included
This report contains:
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