Chevron Completes $53 Billion Hess Acquisition; Gains Access to Key Guyana Deepwater Oil Play

Nearly 21 months after announcing the blockbuster deal to acquire the nation’s leading independent oil company, Chevron Corp. said it has finally completed its $53 billion acquisition of Hess Corp. after clearing approval from the Federal Trade Commission (FTC) on July 17.

“This merger of two great American companies brings together the best in the industry,” said Chevron Chairman and CEO Mike Wirth. “The combination enhances and extends our growth profile well into the next decade, which we believe will drive greater long-term value to shareholders.”