New York-based Hess's net production was 395,000 barrels of oil equivalent per day (boepd) in the quarter, compared to 351,000 boepd a year earlier. Hess...
- Oil and gas producer Hess Corp on Wednesday beat Wall Street estimates for third-quarter profit on higher production, days after agreeing to be bought by larger U.S. rival Chevron Corp for $53 billion.
Chevron is set to get Hess's 30% stake in the massive discoveries in Guyana in which larger rival Exxon Mobil and China's CNOOC are partners. Production at the Stabroek oil block is expected to triple to more than 1.2 million barrels per day by 2027. Pfizer will still benefit from the 25% stake it retained as well as full rights to the drug outside the US and Japan.
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Chevron to buy Hess Corp for $53 billion in second oil mega-merger in weeksHOUSTON (Reuters) -Chevron agreed to buy U.S. rival Hess for $53 billion in stock in a deal that reflects top U.S. energy companies drive for oil and gas...
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Chevron Will Discontinue Oil Hedging Once Hess Deal Is CompleteChevron Corp. said it will no longer use put options to hedge the crude oil production it’s acquiring from Hess Corp. once the deal completes.
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Chevron to acquire Hess Corp. for $53B in all-stock dealAmerican gas and oil producer Chevron (CVX) will buy Hess (HES) for $53 billion dollars in an all-stock deal. The deal will add Hess' North Dakota and Guyana...
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Hess Family Stake Valued at $5 Billion With Chevron TakeoverLeon Hess founded Hess Corp. with a secondhand truck delivering fuel oil during the depression. Ninety years later, his son, John Hess, has agreed to sell the US oil producer to Chevron Corp. in a deal that crystallizes the value of the stake controlled by the family at about $5 billion.
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Chevron's Hess deal shows big oil still banking on fossil fuels despite energy transitionChevron's $53 billion deal for Hess is a sign that big oil thinks fossil fuels will be in demand for years to come.
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Chevron to buy Hess for US$53 billion in latest oil megadealChevron Corp. agreed to buy Hess Corp. for US$53 billion, a deal aimed at boosting production growth as the U.S. oil industry bets on an enduring future for fossil fuels.
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