Exclusive-Chevron puts $2 billion Colorado pipeline assets for sale, sources say

By David French

NEW YORK (Reuters) -Chevron is selling a collection of pipeline assets in the Denver-Julesburg shale basin that are likely to fetch more than $2 billion, people familiar with the matter said.

Investment bankers at Bank of America have been working in recent weeks to solicit potential interest in the infrastructure, which was largely inherited from the oil major’s acquisition of Noble Energy in 2020 and its subsequent full takeover of Noble’s midstream business a year later, said the sources, who asked not to be named because the talks are private.

Collectively, the assets generate around $200 million of earnings before interest, taxes, depreciation and amortization (EBITDA), some of the people added. Based on sales of similar assets, Chevron can expect to fetch upwards o