Chevron Corp. is selling nearly 100,000 net acres in a natural gas-rich area of Wyoming and Colorado as it trims its U.S. onshore inventory.

The properties are being offered in six separate packages through EnergyNet.com, including stakes in more than 500 operated wells and 1,000 nonoperated wells, a spokesman confirmed Tuesday. The offering also includes interests in northwestern Colorado.

On the market are properties in the Green River, Wind River and Powder River basins, the Moxa Arch area and the Wyoming Overthrust Belt. Sealed bids are due by 4 p.m. on Sept. 29.

Included for sale are about 5,730 net acres within Green River in Moffat County, CO, as well as 16,710 net acres in the Wyoming portion of the basin in Carbon and Sweetwater counties. In several southwestern Wyoming counties within Green River and Moxa Arch, 58,000 net acres also are up for sale.

The Wind River sale includes 17,000 net acres in Wyoming’s Fremont and Natrona counties, while in the Wyoming Overthrust, 25,000 net acres are being marketed in Lincoln and Uinta counties for the Whitney Canyon and Carter Creek fields. In the Powder River, 2,869 net acres are for sale in Wyoming’s Campbell, Converse, Crook, Johnson, Natrona, Sheridan and Weston counties.

Combined, net production across the formations is about 56 MMcfe/d, 80% weighted to natural gas, 15% liquids and 5% condensate. Annual decline rates are 7-12%, and Chevron said the 12-month cash flow average is $838,854/month net. Chevron’s working interest ownership averages 70%, with a 59% net revenue interest.

During a 2Q2016 conference call at the end of July, CFO Pat Yarrington said Chevron was working on “a number of potential transactions” in part to cope with continuing poor quarterly performance (see Daily GPI, July 29). U.S. upstream operations lost $1.1 billion during the quarter, versus a $1.04 billion loss in the year-ago period.

Chevron is targeting $5-10 billion in global divestments by the end of 2017. To date this year, it has received $1.4 billion from selling Canadian gas storage assets, Gulf of Mexico upstream properties, California pipeline assets and its New Zealand marketing division. Last month it agreed to sell to Phillips 66 Partners LP about 500 miles of pipelines, a storage cavern and other facilities in southeastern Louisiana (see Daily GPI, Aug. 26).