Chevron Entry into PEL 82 [Yahoo! Finance]
Chevron Corporation (CVX)
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Source: Yahoo! Finance
Chevron Namibia Exploration Limited (“CNEL”), an affiliate of Chevron Corp. (“CVX”) has executed an agreement effective April 28 th that provides for their entry into Petroleum Exploration License 82 (“PEL 82”) with the assumption of an 80% working interest and operatorship. NAMCOR, the National Petroleum Corporation of Namibia, and Custos Energy (Pty) Ltd. (“Custos”) will each maintain a 10% carried interest in PEL 82. Sintana maintains an indirect 49% interest in Custos. PEL 82 governs blocks 2112B AND 2212A located in the Walvis Basin, offshore Namibia. PEL 82 is one of the Walvis Basin's most attractive opportunities. Approximately 70% of total block area is covered by existing seismic – over 3,500 km of 2D and 9,500 km2 of 3D data. Previous drilling activity on PEL 82 includes the Murombe-1 and Wingat-1 wells. Results confirmed the regional extension and presence of the Barremian-Aptian oil-prone source rock (Kudu shale). The Murombe-1 penetrated the Baobab sands return
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- 4/26/24 - Beat
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Sec Filings
- 5/14/24 - Form PX14A6G
- 5/13/24 - Form 4
- 5/10/24 - Form SD
- CVX's page on the SEC website