Chevron Corporation (CVX) has completed its acquisition of Hess Corporation, following all closing conditions and a favorable arbitration ruling on Hess’ offshore Guyana asset.
Under the merger terms, Hess shareholders will receive 1.0250 shares of Chevron for each Hess share, with Chevron set to issue approximately 301 million common stock shares from its treasury.
Exxon Mobil Corporation is projected to see cash flow per share growth in 2025, driven by synergies and the start of operations of the fourth floating production storage and offloading vessel in Guyana.
The combined company, plans capital expenditures between $19 billion and $22 billion.
“This merger of two great American companies brings together the best in the industry,” said Chevron Corporation Chairman and CEO Mike Wirth.
