Shell Oil Gulf Assets for Sale. Should our government buy them out? [View all]

[Lodestar]

Just a thought, and the timing couldn't be better regarding bang for the buck. Perhaps
tie in the purchase as a condition of the current lawsuit? Not a clue whether that's even
feasible or a good idea but it crossed my mind. I know Putin did something along these
lines although it was more of a seizure. But unlike Putin, I think our Gulf should be purchased as a protected national treasure, like our park lands.
An ecosystem more essential to our long term needs than fossil fuels:

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Chevron puts shallow Gulf assets up for sale
Posted on February 19, 2016 | By Jordan Blum

Chevron is placing all of its shallow Gulf of Mexico acreage up for sale with a goal of unloading the assets by the end of 2017, the company confirmed Friday.

In a world of $30 a barrel oil, Chevron aims to reduce costs and shed assets deemed unnecessary. The California-based oil giant with a major Houston presence will instead focus its attention on deep-water Gulf projects.

“Chevron is accelerating the sale of mature shelf properties and has begun marketing all shelf assets in the Gulf,” Chevron spokesman Cam Van Ast said in a prepared statement. “The divestments will begin in 2016 and are expected to be completed by the end of 2017.”

He said Chevron is targeting between $5 billion and $10 billion in asset sales globally by the close of 2017.

In the shallow Gulf, that means selling 27 oil and gas fields that produce about 46,000 barrels of oil equivalent a day. Houston-based firm Tudor, Pickering, Holt & Co. predicted Chevron could collect more than $1 billion from the potential sales.

Cont'd
http://fuelfix.com/blog/2016/02/19/chevron-puts-shallow-gulf-assets-up-for-sale/