04:10 AM EDT, 04/01/2025 (MT Newswires) -- Chevron ( CVX ) subsidiary Chevron U.S.A. said late Monday it closed the sale of a 70% interest in its East Texas gas assets to an affiliate of TG Natural Resources for $525 million, with $75 million paid in cash and $450 million as a capital carry to fund Haynesville development.

The company said it will retain a 30% non-operated working interest in a joint venture with TG Natural Resources and an overriding royalty interest in the assets.

The transaction is expected to generate over $1.2 billion in value to Chevron ( CVX ) "at current Henry Hub prices through the multi-year capital carry," the company said.