Why is there rumors of SM energy buying chevron assets in Colorado lol, SM energy is in debt acquiring Civitas I don’t think they will be buying anything for a good while. Besides chevron I feel like has invested way too much in this area that SM energy won’t be able to afford what they ask.
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@aq I’v been around a bit, too. Your take is probabaly the most accurate in how we historically handled acquired assets. I’ve been part of a few of those efforts. Your take on CO and TX will prove to be true in the next few years.
Portions are being marketed now. If it doesn’t sell it won’t be because of any reason listed here outside of the bids being too low. Chevron will sell virtually anything if the price is right. No amount of production or ‘strategic fit’ will change that.
It will be sold off in chunks to retain the growth pieces while divesting the old guard. Bring on the new!!
Way too profitable to sell. Too many quality locations left - competes well with Permian for capital. You develop the remaining undev then consider potential infills, refracs and other zones like the greenhorn and j sand being tested by other operators.
No we need the production
True. And it will get worse as time goes on.
I am someone who appreciates employees who have more polished grammatical skills, unlike most of you. It's just too bad that on this thread the only person attempting that has to resort to AI, hence the bot-like dialogue. That just shows how far communication skills have fallen since the dominance of smart devices.
@aw, Yes Indeed, I agree 100%! I desire and aspire to achieve this level of this grammatic elegance as well. For, after all, that is of utmost importance in our profession, not what we can actually achieve or produce. It seems some are content with being able to recite AI quips and have completely forgotten what they have been hired for and are being paid to do, lol!
@aq okay whatever floats your boat big bot, on the other hand why did they acquire PDC energy ? They didn’t have any Mediterranean assets. 🤷♂️
@aw By the way, the word is eloquence, not elegance. I know your narrow little sheep herder mind is challenged with getting things right. Your sarcasm doesn't diminish my message but instead makes you a smaller and more contemptable person.
I certainly wish that I had the posting proficiency as @aq. He sets the standard for all of us to aspire to be. We should all be posting daily on this site with his grammatic elegance and style, transforming simple sentences into beautiful prose.
@a5 Are you saying that I am a bot because I don't have over twenty typos across three sentences or is it that I can use words with more than seven letters in them? Maybe you can aspire to reach this same level of posting proficiency....someday. Even if I was using AI (which I wasn't) to make my post, what concern is it to you? You can either agree with my post or disagree with it, but trying to cast shade at my message due to methodology has no relevance in this forum. I do agree with @ak's post regarding Chevron 'Midas Touch' as I have been around this company long enough to see the same thing happen with high value Gulf, Texaco, and Unocal properties coming into the portfolios, get run into the ground and then sold away on a song. When Chevron acquires other companies, they only stay focused on the key strategic asset. In the case of Noble, Chevron only wanted the Mediterranean assets. The Colorado and Texas assets are just temporary collateral holdings. After fondling them for a couple of years now, they are realizing that each asset is not synergically aligned with CVX's downstream or other assets making them prime divestiture candidates. If you're a part of these assets, you'd better put your CVX patches on your FRs using velcro.
Another example of Chevron’s Midas touch with acquisitions. Acquire it overpaying and run it in to the ground.
Sell it all. Today.
Chevron has completely ba----dized the Colorado assets since the acquisitions
@a4 your a bot it sounds like 👍
Face the reality: CO is not geographically strategic to Chevron, there is much higher risk to the public, and the salary burden in CO is much higher than in West Texas. The clock has been ticking on CO since the Noble acquisition. There is no future in Chevron unless you are a resident of India.
I know right it just takes one person to say something and it spreads like wild fire lol 😆 people just miss the old PDC energy and live in hopes of it making a comeback 😂.