Chevron sold 43% stake in two Colombian gas production fields to Hocol
Client(s) Chevron Corporation
Jones Day represented Chevron Petroleum Company ("Chevron"), a subsidiary of Chevron Corporation (NYSE: CVX), in the sale of its 43% 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% of the Chuchupa and Ballena fields. Hocol replaces Chevron as the operator.