Exploration & Production

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Four Takeaways from the Chevron-Noble Energy Deal

Chevron CEO Mike Wirth provides four takeaways from the supermajor’s offer to buy Noble Energy in a deal worth $13 billion, including debt.

Derek Brower, Financial Times

Tue, 07/21/2020 - 11:25 AM

Four Takeaways from the Chevron-Noble Energy Deal

In addition to rich U.S. shale assets, the acquisition of Noble Energy adds long-term inventory of cleaner-burning natural gas in the East Mediterranean to Chevron’s upstream portfolio. (Source: Chevron Corp.)

Chevron Corp. made the first big M&A move of the crash, offering on July 20 to buy Noble Energy Inc. in a deal worth $13 billion, including debt. Financial Times spoke to Mike Wirth, Chevron’s CEO, and others, and have several takeaways including rewarded for patience, the importance of ESG, more M&A now likely and choppy geopolitical waters.

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