Chevron announces US$33bn agreement to acquire Anadarko
15 April, 2019
Chevron Corporation has announced that it has entered into an agreement with Anadarko Petroleum Corporation to acquire all of the outstanding shares of Anadarko in a stock and cash transaction valued at US$33bn (£25bn), or US$65 (£49) per share.
The acquisition of Anadarko will significantly enhance Chevron’s upstream portfolio and further strengthen its leading positions in large, attractive shale, deepwater and natural gas resource basins.
The combination of the two companies will create a 75-mile-wide corridor across the Delaware Basin, extending Chevron’s position as a leading producer in the Permian Basin.
Chevron will gain another world-class resource base in Mozambique to support growing LNG demand.
Mozambique has emerged as one of the fastest growing LNG markets in the world. Opportunities for UK suppliers in this market will be discussed at the Energy Exports Conference, 18-19 June, Aberdeen.