Chevron's $10.70 Billion Trading Day Leads to 40.19% Decline in Volume

On April 1, 2025, Chevron (CVX) saw a trading volume of $10.70 billion, marking a 40.19% decrease from the previous day. The stock price rose by 0.73%, marking two consecutive days of gains and a total increase of 1.46% over the past two days.

Chevron recently announced the sale of a 70% stake in its East Texas natural gas assets to TG Natural Resources, a company indirectly owned by Tokyo Gas and Castleton Commodities International. The transaction, valued at $525 million, includes $75 million in cash and $450 million as a capital carry to fund Haynesville development. Chevron will retain a 30% non-operated working interest in the joint venture and an overriding royalty interest in the assets. This move is part of Chevron's strategy to divest $10-15 billion of assets by 2028 to optimize its global energy portfolio.

The sale is expected to generate over $1.2 billion in value for Chevron through the multi-year capital carry, retained working interest, and overriding royalty interest. Chevron aims to maintain future upside through the joint venture structure while accelerating the development of a non-core asset in a capital-efficient manner. This transaction supports Chevron's broader strategy to grow its oil and gas business, lower the carbon intensity of its operations, and invest in renewable fuels, carbon capture, hydrogen, and emerging technologies.