Oil And Gas Producer Chevron Will Buy Hess Corp For $53 Billion
(CTN News) - In an all-stock deal valued at $53 billion (£44 billion), Chevron has announced that it will purchase the US fossil fuel producer...........
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(CTN News) - In an all-stock deal valued at $53 billion (£44 billion), Chevron has announced that it will purchase the US fossil fuel producer...........
Recent deals a financial flex by US oil, gas firms that keep investing in fossil fuels
Hess Corp. has been a top operator in North Dakota’s Oil Patch and a corporate benefactor to the state since the discovery of oil in 1951.
The bosses for Chevron Corp. and Hess Corp. met for dinner years ago, kicking off ‘friendly’ talks that led to Monday’s $53 billion megadeal, the latest in a wave of consolidation washing over the US oil industry.
Deal marks second major deal in oil industry this month following ExxonMobil’s acquisition of Pioneer Natural Resources