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Chevron to buy Hess for $53 billion

Chevron to buy Hess for $53 billion

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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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With a penchant for words, Eleon Smith began writing at an early age. As editor-in-chief of his high school newspaper, he honed his skills telling impactful stories. Smith went on to study journalism at Columbia University, where he graduated top of his class. After interning at the New York Times, Smith landed a role as a news writer. Over the past decade, he has covered major events like presidential elections and natural disasters. His ability to craft compelling narratives that capture the human experience has earned him acclaim. Though writing is his passion, Eleon also enjoys hiking, cooking and reading historical fiction in his free time. With an eye for detail and knack for storytelling, he continues making his mark at the forefront of journalism.
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