Chevron takes USD 11 billion Marcellus shale gas hit but still eyes Permian oil growth

摘要

Chevron will take a hit of USD 10-11 billion in Q4’19 results after writing off its Appalachian shale gas assets and stake in the Kitimat LNG liquefaction project in Canada. The non-cash impairment was required after the US oil major slashed its natural gas price outlook, but the company is still looking to expand its “world-class Permian Basin position” – quelling speculation that the move might have wider repercussions for the embattled US shale industry.