Current CVX Stock Info

By Tyler Losier, Energy Reporter, Oil & Gas 360

Ithaca will now be second largest producer in North Sea
Ithaca Energy Limited will be acquiring Chevron North Sea Limited (stock ticker: CVX) for $2 billion, adding 10 producing field interests to its existing portfolio.

Four of those interests are related to assets already operated by Ithaca, leading to an approximately 150% increase in its 2P reserves and a 300% increase in forecasted production for 2019.

In total, after the transaction is complete, Ithaca’s asset base will be comprised of 18 fields with 225 MMBOE in 2P reserves and 45 MMBOE of 2C reserves. It’s pro forma production capability for 2019 is forecasted to reach 80,000 BOEPD at an operating cost of approximatel...


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