The deal puts two of the top oil giants, Chevron and Exxon Mobil, head-to-head in two of the world’s fastest growing oil basins – shale and Guyana
in a $53-billion all-stock deal, as the oil major looks to increase its footprint in oil-rich Guyana., head-to-head in two of the world’s fastest growing oil basins – shale and Guyana.
To buy Hess, Chevron is offering $171 for every Hess share, implying a premium of about 4.9 per cent to the share’s last close. The combined company is expected to grow production and free cash flow faster and for longer than Chevron’s current five-year guidance, the companies said.
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