Oil company Chevron to acquire rival Hess for $53 billion
Tuesday, 24 October 2023 Chevron agreed to buy Hess for $53 billion - a deal aimed at boosting production growth as the US oil industry bets on an enduring future for fossil fuels. In an all-stock transaction, Chevron will pay $171 per share for Hess, a premium of about 10% to the 20-day average price, according to a statement from the companies on Monday. Hess shareholders will receive 1.025 shares of Chevron for each Hess share, giving the company a total enterprise value of $60 billion.
Chevron to Acquire Hess , for $53 Billion.
On Oct. 23, Chevron announced that it will buy out its competitor in an all-stock deal, Fox News reports.
The deal "upgrades and diversifies
Chevron's already advantaged portfolio,"
according to the energy company.
Hessβ Bakken assets add...
X Is Now Worth 55% Less , Than What Elon Musk Paid for It.
Musk bought X, formerly Twitter,
for $44 billion last year. .
Musk bought X, formerly Twitter,
for $44 billion last year. .
Now, he..
Credit: Wibbitz Top Stories Duration: 01:31Published
White House Announces, $7 Billion Push to Replace , Fossil Fuels With Hydrogen.
White House Announces, $7 Billion Push to Replace , Fossil Fuels With Hydrogen.
'Time' reports that the Biden..
Credit: Wibbitz Top Stories Duration: 01:31Published
ExxonMobil to Buy , Shale Rival Pioneer.
ExxonMobil has agreed to
purchase Pioneer Natural
Resources for $60 billion,
CNN reports.
Exxon's acquisition of the major shale oil
producer would more..
Credit: Wibbitz Top Stories Duration: 01:30Published
Chevron's third-quarter profit fell short of Wall Street estimates, causing its shares to drop by 6%. The decline in earnings is attributed to lower crude prices... IndiaTimes
Tuesday, 24 October 2023
![X Is Now Worth 55% Less Than What Elon Musk Paid for It [Video]](https://video.newsserve.net/300/v/20231031/1359934618-Is-Now-Worth-55-Less-Than-What.jpg)
![White House Announces $7 Billion Push to Replace Fossil Fuels With Hydrogen [Video]](https://video.newsserve.net/300/v/20231013/1359218173-White-House-Announces-Billion-Push-to-Replace.jpg)
![ExxonMobil to Buy Shale Rival Pioneer [Video]](https://video.newsserve.net/300/v/20231011/1359117306-ExxonMobil-to-Buy-Shale-Rival-Pioneer.jpg)
