Chevron (CVX) possesses the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.
Volatile crude prices, slowing output growth and mounting renewable demand are making the prospects for the Zacks Oil & Gas International Integrated industry gloomy. ExxonMobil (XOM), Chevron (CVX) and Shell (SHEL) are well placed to survive the challenges.
Chevron (CVX) closed the most recent trading day at $153.12, moving +2.05% from the previous trading session.
Chevron's bold Gulf of America push and Shell's deepwater dominance set up a high-stakes showdown for investors.
Chevron finalizes Hess acquisition after arbitration win over ExxonMobil, gaining a key 30% stake in Guyana oil riches.
Incoming Chairman Albert Manifold moved his last company's main listing to New York from London.
Chevron's acquisition of Hess secures a 30% stake in Guyana's Stabroek Block, unlocking significant low-cost, high-growth oil production potential. Hess adds robust Bakken shale assets and immediate profit growth, supporting Chevron's valuation and long-term cash flow generation. Chevron's ramp-up in TCO, Gulf of Mexico, and refining capacity positions it for production growth and enhanced shareholder returns.
The acquisition of Hess—and its stake in a generational oil find—helps clear up lingering doubts about Chevron's growth prospects.
Chevron CEO Mike Wirth on Friday said the company's acquisition of Hess, which it completed this week after winning a legal dispute with Exxon Mobil, is good for the oil and gas sector and creates the "strongest upstream portfolio in the industry."
The conclusion of the saga removes a stock overhang for Chevron and paves the way for the $53 billion deal to close immediately, which the oil giant said it could happen within a couple of days.
Chevron (CVX) can complete its $53 billion purchase of Hess (HES) after an international arbitrator ruled in favor of Chevron in a dispute with Exxon Mobil (XOM) related to Chevron's planned acquisition. Following the decision, Chevron said it had closed the deal.
Chevron Corporation (NYSE:CVX, ETR:CHV) said Friday it has closed its $53 billion acquisition of Hess Corp (NYSE:HES), cementing its entry into Guyana's prized oil fields after an international arbitration panel rejected Exxon Mobil Corp (NYSE:XOM, ETR:XONA) attempt to block the deal. The ruling by the International Chamber of Commerce (ICC) dismissed Exxon's claim that it held a right of first refusal on Hess's 30% stake in the Stabroek Block offshore Guyana, clearing the way for Chevron to finalize the long-contested takeover.