Chevron Buyout Of Hess Highlights Renewed Focus On Production Growth

Any new merger announcement as sizable as Monday’s announced deal between Chevron and Hess inevitably invites comparisons to other recent deals of similar size. The obvious comparison point for this buyout is the deal between ExxonMobil and Pioneer Natural Resources announced less than two weeks earlier. Andrew Dittmar, Senior Vice President at Enverus Intelligence Research (IER) said in an email that, “the common thread connecting these deals is majors looking to refill their pipelines to maintain production against a declining asset base as they anticipate their legacy businesses staying profitable...