Chevron has agreed to transfer all of its oil and gas assets inUtah’s Uinta Basin to Shenandoah Energy, a new company created byThe Chandler Company, in exchange for an equity ownership interestin Shenandoah and an undisclosed amount of cash. Shenandoah alsowill acquire all of Chandler’s stock. The transactions will have aneffective date of July 1, and are expected to close by Nov. 30,subject to certain conditions and approvals.
Transfer
Articles from Transfer
Occidental Cutting 80 Jobs
Occidental Petroleum Corp. said it will cut about 80 jobs fromits headquarters staff and transfer about 150 positions to arecently formed subsidiary as part of a broad cost-cutting plan.The move, which reduces headquarters staff by more than half,follows the announcement in September that the company wouldeliminate 210 jobs at its Bakersfield, CA-based oil and gasdrilling subsidiary.
November 4, 1998
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