U.S. Markets closed

Chevron buying stakes in Australian shale gas assets, FT says

Chevron (CVX) has agreed to pay up to $349M for stakes in two Australian shale plays being developed by Beach Energy, according to Financial Times. Chevron's deal follows PetroChina's (PTR) recent agreement to explore for gas in Western Australia with partner ConocoPhillips (COP), the report noted.