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Chevron to Sell Some Assets: Chevron U.S.A....

From Times Staff and Wire Reports

Chevron to Sell Some Assets: Chevron U.S.A. Inc. said it has agreed to sell certain Gulf of Mexico oil reserves for about $150 million to a New Orleans-based partnership. Chevron U.S.A., the domestic oil and gas subsidiary of Chevron Corp., said it will sell its Main Pass 299 shallow oil reserves, estimated at 35 million to 50 million barrels of oil, to Freeport-McMoran Resource Partners Limited Partnership, an affiliate of Freeport-McMoran Inc., to avoid the costs and other problems tied to co-development of oil, gas and sulfur resources.


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