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Chevron exits upstream Colombia with sale to Hocol

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09 December 2019

Chevron exits upstream Colombia with sale to Hocol

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 6 images and tables including:

  • 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:

  • Document

    Chevron exits upstream Colombia with sale to Hocol

    PDF 746.16 KB

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