Chevron acquires leasehold acres in Delaware Basin

Chevron USA is to acquire 246,000 net leasehold acres in the Delaware Basin in New Mexico, a part of the Permian Basin, from Chesapeake Energy Corporation.

The terms of the agreement were not disclosed.

George Kirkland, vice-chairman at Chevron Corporation, said: ‘These early-in-life, liquids-rich unconventional assets have the potential to be significant future contributors to Chevron’s robust North American operations.’