Chevron to Acquire Trago Energy’s Interest Stake in PEL 90

Chevron to acquire Trago Energy’s interest stake in PEL 90

Chevron is set to purchase Trago Energy’s 10% participating interest in Namibia’s offshore Petroleum Exploration Licence 90 (PEL 90) for an upfront payment of US$11 million. This agreement allows Trago to avoid funding the upcoming Nabba-1X exploration well while maintaining potential upside through future contingent payments. Trago, a subsidiary of Custos Energy, has agreed to …

Chevron adds Trago's PEL 90 interest before drilling Nabba-1X

Trago Energy, a subsidiary of Namibian explorer Custos Energy, agreed to transfer its 10% participating interest in Petroleum Exploration License 90 (PEL 90) to Chevron affiliate Harmattan Energy Limited. The license covers Block 2813B in the Orange Basin offshore Namibia and is operated by Chevron. A drill-ready prospect in the license is scheduled for testing …

Custos-Chevron Deal Sets Stage for New PEL 90 Exploration Upside

Custos Energy’s PEL 90 stake transfer to Chevron strengthens Namibia’s Orange Basin outlook, supporting exploration momentum ahead of the Nabba-1X drilling campaign. The post Custos-Chevron Deal Sets Stage for New PEL 90 Exploration Upside first appeared on African Energy Chamber.

Chevron Replenishes Exploration Stake in Namibian Orange Basin

Operator Chevron will acquire Custos' 10 percent stake in PEL 90, partly offsetting the U.S. energy giant's pending farm-out to Equinor.