Chevron signs US$5bn deal to acquire Noble Energy
21 July, 2020
US supermajor Chevron has agreed to acquire Noble Energy in an all-stock transaction valued at US$5bn.
This is one of the biggest energy deals in the US amid the COVID-19 pandemic, which has affected global oil demand.
Chevron expects the acquisition of Noble Energy to provide low-cost, proved reserves and attractive undeveloped resources, complementing its upstream portfolio.
Additionally, Noble Energy’s low-capital, cash-generating offshore assets in Israel will boost Chevron’s position in the Eastern Mediterranean.