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Chevron is buying Hess Corp. for $53 billion and it's not even the biggest acquisition in the energy sector this month as major producers seize the initiative while oil prices surge.
Chevron said on Monday it agreed to buy Hess for $53 billion in stock, the second proposed mega-merger among the biggest U.S. oil players after Exxon Mobil bid $60 billion for Pioneer Natural Resources earlier this month.
HOUSTON - Chevron Corp agreed to buy Hess for $53 billion in stock to gain a bigger U.S. oil footprint and a large stake in rival Exxon Mobil Corp's massive
(Bloomberg) -- Guyana’s government is “very supportive” of Chevron Corp.’s deal to buy Hess Corp., which owns a large stake in the country’s oil developments, Chief Executive Officer John Hess said in an interview. Most Read from BloombergUS Push for Release of Hostages May Delay Israeli Ground War, But Won’t Stop ItTreasury 10-Year Yield Breaches 5% for First Time Since 2007S&P 500 Holds Its Ground Amid Wild Treasury Moves: Markets WrapCar Owners Fall Behind on Payments at Highest Rate on Recor
The Chevron-Hess deal comes less than two weeks after Exxon Mobil said that it would acquire Pioneer Natural Resources for about $60 billion.