19 May 2024
Chevron swoops for Noble Energy in bid to boost cash flow and diversify portfolio
Publication date: 20 July 2020
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Chevron is to acquire US independent Noble Energy in an all-shares deal valued at USD 13 billion, including debt. The move marks the US oil major’s first big acquisition foray since its failed attempt to buy Anadarko Petroleum in early 2019, and is the first sign of consolidation among top-tier upstream players since the pandemic-induced oil crash that has decimated asset values and capital budgets. On an analyst call, Chevron CEO Mike Wirth talked up the ...