Bids for Chevron’s 550K M-U Acres & 500 Wells Due in Mid-August

Last December Chevron announced it was writing down over $10 billion worth of its U.S. onshore shale assets, with $6.5 billion of that number coming from its Marcellus/Utica assets. Also in December, the company posted for sale ALL of their M-U assets (see Chevron Confirms M-U Assets for Sale, Asks Vendors to Avoid Media). Just sticking a “for sale by owner” sign on more than a half-million acres of leases and over 500 wells didn’t work, so in February Chevron hired investment bank Barclays to help shop their M-U assets (see Chevron Hires Barclays to Help Sell Its Marcellus/Utica Assets).

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