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Chevron Acquires Hess Corporation to Form Premier Oil and Gas Company
ByAinvest
Friday, Jul 18, 2025 10:54 pm ET1min read
Chevron has completed its acquisition of Hess Corporation, creating a premier integrated oil & gas company with a diversified global portfolio, including Guyana and the US Bakken. The combined company has a high cash margin production profile and is expected to drive significant free cash flow and production growth into the 2030s. Chevron plans to achieve $1 billion in annual run-rate cost synergies by the end of 2025 and expects to drive higher returns to shareholders over the long-term.
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