Monday, December 23

Tag: HES

FTC Probes Chevron’s $53 Billion Deal for Hess
8Dec By adminNo Comments
World

FTC Probes Chevron’s $53 Billion Deal for Hess

The Federal Trade Commission is investigating Chevron’s $53 billion proposed deal to buy Hess, the second-biggest oil megamerger this year.  Chevron and Hess said Friday the antitrust enforcer is seeking additional information about the merger, a move signaling the commission is reviewing whether the deal could be anticompetitive under U.S. law. Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8
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Exxon, Chevron Look to the West in an Increasingly Uncertain World
25Oct By adminNo Comments
World

Exxon, Chevron Look to the West in an Increasingly Uncertain World

Oct. 24, 2023 11:00 pm ETListen to article(2 minutes)As the world becomes more dangerous, the two largest Western crude producers are focusing their investments closer to home. Chevron on Monday announced that it was acquiring Hess in a $53 billion deal that gives it access to one of this century’s biggest oil finds in the South American country of Guyana and allows it to double down on shale by expanding its presence to North Dakota. Both regions are established oil producers with limited geopolitical tensions, affording Chevron new reserves with fewer risks.Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8
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Chevron to Buy Hess for $53 Billion
23Oct By adminNo Comments
World

Chevron to Buy Hess for $53 Billion

Updated Oct. 23, 2023 1:50 pm ETChevron said it would buy Hess in an all-stock deal worth $53 billion, the second major oil tie-up this month following Exxon Mobil’s deal to buy Pioneer Natural Resources. The U.S. energy company said buying Hess would upgrade and diversify its portfolio, marking Chevron’s entrance into an Exxon-led partnership overseeing a generational oil find in Guyana, while picking up additional U.S. shale assets largely in North Dakota.Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8
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Chevron and Exxon Might Have Kicked Off an Oil Land Grab
23Oct By adminNo Comments
Money

Chevron and Exxon Might Have Kicked Off an Oil Land Grab

The smell of mergers and acquisitions is in the air following more than $110 billion worth of oil megadeals this month—Chevron’s agreement to buy Hess and Exxon Mobil’s deal for Permian giant Pioneer Natural Resources. Who’s next?Deal talks are already under way. Devon Energy, another top Permian producer, is said to be eyeing targets that include Marathon Oil and CrownRock, according to a report from Bloomberg. Gas producer Chesapeake Energy is reportedly considering an acquisition of Southwestern Energy, according to Reuters.Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8
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