Chevron Corp. (NYSE: CVX) has acquired an interest in two offshore energy sites off of Australia.
The locations are in the Bight Basin, a deep water frontier basin about 275 miles off of the South Australia coast. Chevron made the acquisition through its subsidiary, Chevron Australia. Terms of the deal were not disclosed.
San Ramon, Calif.-based Chevron explores for, produces and transports crude oil and natural gas, and also refines and distributes transportation fuels. The company also makes and sells petrochemical products and generates power. The deal gives Chevron an expanded resource base.
The deal follows several oil and gas deals, including Azure Midstream Holdings LLC’s $910 million acquisition of TGGT Holdings LLC, and Crestwood Midstream Partners LP’s purchase of Arrow Midstream Holdings LLC for $750 million.