Chevron Completes Acquisition of Noble Energy
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Chevron’s acquisition of Noble Energy has been completed following approval by Noble Energy shareholders.
“We are pleased to welcome Noble Energy’s employees and shareholders to Chevron. Noble’s high-quality assets complement Chevron’s advantaged upstream portfolio, and the combination is expected to deliver strong financial benefits,” said Chevron Chairman and CEO Michael Wirth.
“With an industry-leading balance sheet and a track record of capital discipline, we believe we’re in a different place than others and can protect the dividend while driving long-term value,” added Wirth.
“We are pleased that Noble Energy shareholders resoundingly support the transaction with Chevron,” said David L. Stover, Noble Energy’s chairman and CEO.
“Today’s approval marks an important milestone on the path to becoming part of an even stronger global energy platform. We thank our shareholders and other stakeholders for recognizing the many benefits that will be realized, and the significant value that will be created, through this combination,” added Stover.
As previously reported, on July 20, 2020, Chevron and Noble Energy entered into a definitive merger agreement providing for Chevron’s acquisition of Noble Energy in an all-stock transaction.
About Chevron
Chevron Corporation is one of the world’s leading integrated energy companies. Through its subsidiaries that conduct business worldwide, the company is involved in virtually every facet of the energy industry. Chevron explores for, produces and transports crude oil and natural gas; refines, markets and distributes transportation fuels and lubricants; manufactures and sells petrochemicals and additives; generates power; and develops and deploys technologies that enhance business value in every aspect of the company’s operations. Chevron is based in San Ramon, California.
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