Chevron Acquires Hess Corporation

Chevron Acquires PDC Energy

August 7, 2023

Energy

Chevron Corporation completed its acquisition of PDC Energy, Inc. in an all‑stock transaction valued at $6.3 billion (approximately $7.6 billion enterprise value), adding significant oil and gas assets in the Denver‑Julesburg (DJ) Basin and the Permian Basin. The deal, approved by PDC shareholders and closed in August 2023, is expected to be accretive to Chevron's earnings, increase proved reserves and deliver operational synergies.

Chevron Acquires Equity Interest in American Natural Gas LLC (Beyond6) from Mercuria

October 1, 2021

Energy

Chevron U.S.A. Inc. closed its previously announced acquisition of an equity interest in American Natural Gas LLC (operator of the Beyond6 CNG fueling network), acquiring a network of about 60 compressed natural gas stations across the United States from Mercuria Energy Trading. The deal expands Chevron's alternative-fuels footprint and supports its strategy to grow lower-carbon and renewable natural gas distribution capabilities.

ConocoPhillips to Acquire Concho Resources

October 19, 2020

Oil & Gas

ConocoPhillips agreed to acquire Concho Resources in an all-stock transaction valued at $9.7 billion, exchanging each Concho share for 1.46 shares of ConocoPhillips. The combination creates a larger independent oil and gas company with expanded Permian Basin scale, expected cost and capital synergies of $500 million annually and an enhanced low-cost resource base.

ConocoPhillips Acquires Marathon Oil Corporation

May 29, 2024

Energy

ConocoPhillips has acquired Marathon Oil Corporation in an all-stock transaction (0.2550 COP shares per Marathon share) with an enterprise value of $22.5 billion (including $5.4 billion of net debt). The deal, approved by Marathon shareholders and completed in November 2024, expands ConocoPhillips' U.S. Lower 48 portfolio, is immediately accretive, and is expected to deliver significant cost and capital synergies.

Chevron Acquires Magnum Development and Majority Stake in ACES Delta Hydrogen Project

September 12, 2023

Renewable Energy

Chevron U.S.A. Inc., through its Chevron New Energies division, has closed the acquisition of 100% of Magnum Development, LLC from Haddington Ventures, gaining a majority interest in ACES Delta, LLC — the developer of the Advanced Clean Energy Storage hydrogen production and salt-cavern storage project in Delta, Utah. The project will produce and store renewable hydrogen (first phase ~100 metric tons/day) to serve utility, transportation and industrial customers in the western United States and is expected to enter commercial-scale operations in mid-2025.

ExxonMobil Acquires Denbury Inc.

November 2, 2023

Energy

Exxon Mobil Corporation completed its all‑stock acquisition of Denbury Inc. in a transaction valued at $4.9 billion, with Denbury shareholders receiving 0.84 shares of ExxonMobil per Denbury share. The deal adds Denbury's ~1,300 miles of CO2 pipelines, onshore sequestration sites and Gulf Coast/Rockies oil and gas operations (over 200 million boe of proved reserves and roughly 46,000–47,000 boe/d of production), strengthening ExxonMobil's Low Carbon Solutions and CCS capabilities.