Chevron will retain an interest in the Utah operations while freeing up much of the asset value to invest in growth opportunities elsewhere, said Chevron USA Production president Peter Robertson. The transaction is expected to close by December. The assets are in the Red Wash, Wonsits Valley, Gypsum Hills and the Brennan Bottom Unit areas and produce approximately 2280 barrels of oil and 5.9
Chevron rides with new Utah gang
CHEVRON has sold its oil and gas assets in Utah's Uinta basin to Shenandoah Energy for an undisclosed amount of cash and equity.
11 September 1999 0:00 GMT
Updated
11 September 1999 0:00 GMT