Chevron has successfully
completed the acquisition of
Hess Corporation, concluding a highly disputed merger. Despite legal battles, such as the fraud lawsuit by
Continental Resources which was later dropped, Chevron managed to secure about 5% of Hess stock ahead of the acquisition and remained confident in the merger. As a result of the acquisition, Chevron now also has a stake in Guyana's oil development.
Hess Corporation continues to show solid performance, with its
Q1 2025 earnings exceeding expectations despite lower prices and flat year-on-year hydrocarbon production. The companyβs
CEO, John B. Hess, demonstrated confidence throughout the acquisition process, recently selling $55.6 million in the stock. Despite the controversial circumstances, the
FTC reversed orders barring John Hess from Chevron board. The merger also led to Hess being delisted from the NYSE and replaced by Block in the S&P 500 index.
Hess Corporation HES News Analytics from Mon, 30 Sep 2024 07:00:00 GMT to Thu, 07 Aug 2025 07:00:00 GMT -
Rating 7
- Innovation 8
- Information 3
- Rumor -2
