Chevron sells 43 percent stake in two Colombian gas production fields to Hocol
Clients Chevron Corporation
Jones Day is representing Chevron Petroleum Company ("Chevron"), a subsidiary of Chevron Corporation (NYSE: CVX), in its sale of its 43 percent interest in the Association Contract and related rights and assets, pursuant to which Chevron operates certain upstream natural gas assets in the Chuchupa natural gas field in the Caribbean Sea and Ballena fields in the province of La Guajira, Colombia, to Hocol, S.A. ("Hocol"), a subsidiary of state-owned Ecopetrol S.A. ("Ecopetrol"). Ecopetrol currently owns the remaining 57 percent of the Chuchupa and Ballena fields. Following the closing of the transaction, Hocol will replace Chevron as the operator.