Chevron's Oil and Gas Properties in New Mexico and Texas Up for Sale

Chevron is offering to sell oil and gas properties in New Mexico and Texas as part of its efforts to reduce acreage following major shale acquisitions. The properties, covering a total of 31,035 acres, are estimated to be worth around $100 million. Chevron has been divesting properties in the Permian Basin and is the largest publicly-traded oil and gas producer in the region. Bids for the properties are due on July 27.