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Chevron to buy Hess for $53 billion
Chevron to buy Hess for $53 billion
Updated October 23, 2023 at 9:44 a.m. ET
Chevron I said he would buy Hesse in an all-stock deal worth $53 billion, the second major oil tie-up this month after Exxon Mobileit’s a good deal to buy Pioneering natural resources.
The US energy company said the Hess purchase would enhance and diversify its portfolio, marking Chevron’s entry into an Exxon-led partnership overseeing a generational oil discovery in Guyana, while acquiring additional US shale assets, in largely in North Dakota. Chevron also highlighted the appeal of Hess’ assets in the Gulf of Mexico and its natural gas operations in Southeast Asia.
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