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Highlights World class assets and people strengthen long-term outlook Cash flow per share accretion supports higher distributions to shareholders Enhances and extends production and free. . .
Chevron said it is buying Houston-based Hess in the second U.S. upstream mega-deal in just two weeks.
SAN RAMON, Calif. & NEW YORK, October 23, 2023--Chevron Corporation (NYSE: CVX) announced today that it has entered into a definitive agreement with Hess Corporation (NYSE: HES) to acquire all of the outstanding shares of Hess in an all-stock transaction valued at $53 billion, or $171 per share based on Chevron’s closing price on October 20, 2023. Under the terms of the agreement, Hess shareholders will receive 1.0250 shares of Chevron for each Hess share. The total enterprise value, including d
Hess’ Bakken assets add another leading U.S. shale position to Chevron’s DJ and Permian basin operations and further strengthen domestic energy security.
Lawmakers said it portrayed itself as part of the climate solution, even though internal industry documents reveal that companies avoided making real commitments.