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An Oil-Patch Brawl Over a $53 Billion Megadeal Entwines the Legacies of Three CEOs

Posted on AllSides May 27th, 2024
From The Center
CAM POLLACK/WSJ; BLOOMBERG NEWS (2), GETTY IMAGES

Days after striking a $53 billion purchase of Hess HES 0.74%increase; green up pointing triangle, Chevron CVX 0.52%increase; green up pointing triangle Chief Executive Mike Wirth called his counterpart at Exxon Mobil XOM -0.08%decrease; red down pointing triangle to discuss their future partnership in a mega-oil project Chevron would inherit through the deal. 

Darren Woods told Wirth he looked forward to collaboration in Guyana, where Exxon and Hess own portions of a buried treasure of 11 billion barrels of oil and gas. Chevron and Exxon have a long-established partnership in projects around the world, one they could expand off the coast of the rainforest-covered South American...

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https://www.wsj.com/business/energy-oil/guyana-brawl-ceo-exxon-chevron-hess-409c15c1

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