Chevron sells 70 offshore platforms

Oil and gas major Chevron sold 70 offshore platforms to independent explorer Cox Oil at an undisclosed price.

The deal includes a total of 19 offshore oil and gas fields, 70 platforms, and 170 active wells. All assets are located in the US Gulf of Mexico, and in Louisiana state waters.

About 100 employees, which were employed on these platforms, would get absorbed into Cox Oil.

Source: Offshore Post