Chevron's 52-week high reflects three Venezuela JVs that grew production to 250,000 barrels daily, not the private company's 65-billion-barrel headline lease.
CVX's core thesis rests on Permian scale, Guyana's Stabroek block, and a 20-year Microsoft power purchase agreement, while Venezuela represents pure upside optionality.
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Venezuela reportedly lays claim to over 300 billion barrels of proven oil reserves, and the U.S. has set its sights on more of them.
Bloomberg News correspondent Tyler Kendall reported from Caracas this week that the headline prize of Washington's Venezuela deal, a 100-year lease on 17 strategic oil fields holding a claimed 65 billion barrels, went to a private, non-supermajor bidder: North American Blue Energy Partners, a private company that cannot develop the fields alone and has yet to sign on producing partners. Meanwhile, Chevron (NYSE:CVX) stock just printed a fresh 52-week high at $212.79 on a separate, parallel Venezuela commitment. The two developments deserve to be evaluated separately.
#barrels #lease #year
CVX's core thesis rests on Permian scale, Guyana's Stabroek block, and a 20-year Microsoft power purchase agreement, while Venezuela represents pure upside optionality.
Just released. Our ****** ysts combed the entire stock market and named the ten best stocks to buy right now. The report is free. Enter your email and see if any of your stocks made the cut.
Venezuela reportedly lays claim to over 300 billion barrels of proven oil reserves, and the U.S. has set its sights on more of them.
Bloomberg News correspondent Tyler Kendall reported from Caracas this week that the headline prize of Washington's Venezuela deal, a 100-year lease on 17 strategic oil fields holding a claimed 65 billion barrels, went to a private, non-supermajor bidder: North American Blue Energy Partners, a private company that cannot develop the fields alone and has yet to sign on producing partners. Meanwhile, Chevron (NYSE:CVX) stock just printed a fresh 52-week high at $212.79 on a separate, parallel Venezuela commitment. The two developments deserve to be evaluated separately.
#barrels #lease #year
2 months ago
