Chevron To Acquire PDC Energy In All-stock Deal Valued At $6.3 Bln Or $72/Share

RTTNews | 905 dagar sedan
Chevron To Acquire PDC Energy In All-stock Deal Valued At $6.3 Bln Or $72/Share

(RTTNews) - Chevron Corp. (CVX) announced Monday that it has entered into a definitive agreement with PDC Energy, Inc. (PDCE) to acquire all of the outstanding shares of PDC in an all-stock transaction valued at $6.3 billion, or $72 per share.

Based on Chevron's closing price on May 19, 2023 and under the terms of the agreement, PDC shareholders will receive 0.4638 shares of Chevron for each PDC share. The total enterprise value, including debt, of the transaction is $7.6 billion.

The acquisition of PDC provides Chevron with high-quality assets expected to deliver higher returns in lower carbon intensity basins in the United States.

PDC brings strong free cash flow, low breakeven production and development opportunities adjacent to Chevron's position in the Denver-Julesburg (DJ) Basin, as well as additional acreage to Chevron's leading position in the Permian Basin.

In aggregate, upon closing of the transaction, Chevron will issue approximately 41 million shares of common stock. Total enterprise value of $7.6 billion includes net debt.

The transaction has been unanimously approved by the Boards of Directors of both companies and is expected to close by year-end 2023. The acquisition is subject to PDC shareholder approval. It is also subject to regulatory approvals and other customary closing conditions.

read more
Chevron's LNG Plant In Australia Resumes Full Production

Chevron's LNG Plant In Australia Resumes Full Production

Chevron Corp. has resumed full production at its liquefied natural gas or LNG export facility in Australia amid ongoing strikes by union members, reports said. Hundreds of workers at Chevron's LNG plants in Western Australia had launched a work stoppage earlier over pay and working conditions, impacting the global gas market. Workers at Chevron's Wheatstone and Gorgon plants are currently strikin
RTTNews | 786 dagar sedan
Chevron Q4 Profit Up 25%, But Misses Estimates

Chevron Q4 Profit Up 25%, But Misses Estimates

Integrated energy company Chevron reported Friday that profit for the fourth quarter increased 25 percent from last year, reflecting 17 percent revenue growth amid higher realizations and higher margins on refined product sales. Adjusted earnings per share missed analysts' estimates, while quarterly revenues topped it.
RTTNews | 1020 dagar sedan
Cheniere, Chevron Ink Long-Term LNG Sale And Purchase Agreements

Cheniere, Chevron Ink Long-Term LNG Sale And Purchase Agreements

Cheniere Energy, Inc. (LNG) announced Wednesday that two of its subsidiaries, Sabine Pass Liquefaction, LLC and Cheniere Marketing, LLC, have each entered into long-term liquefied natural gas or LNG, sale and purchase agreements or SPA, with Chevron U.S.A. Inc., a wholly-owned subsidiary of Chevron Corp. (CVX).
RTTNews | 1239 dagar sedan
Australian Market Extends Early Losses In Mid-market

Australian Market Extends Early Losses In Mid-market

The Australian market is sharply extending its early losses in mid-market moves on Thursday, adding to the losses in the previous two sessions, following the mixed cues from Wall Street overnight. The benchmark S&P/ASX 200 is falling well below the 8,750 level, with weakness is financial, energy and technology stocks partially offset by gains in gold miner stocks.
RTTNews | 1h 9minuter sedan
Asian Markets Mixed Amid Cautious Trades

Asian Markets Mixed Amid Cautious Trades

Asian markets are mixed on Thursday, following the mixed cues from Wall Street overnight, as traders remain cautious ahead of the release of a barrage of US economic data after the US House of Representatives voted on a bill to end the longest government shutdown in U.S. history. The end to the impasse would enable the US Fed to gauge the economy precisely well ahead of its December meeting.
RTTNews | 1h 14minuter sedan
Higher Open Called For Thai Stock Market

Higher Open Called For Thai Stock Market

The Thai stock market has finished lower in consecutive trading days, dropping more than 20 points or 1.6 percent along the way. The Stock Exchange of Thailand now sits just beneath the 1,285-point plateau although it's expected to find traction on Thursday.
RTTNews | 2h 46minuter sedan
Japanese Market Notably Higher

Japanese Market Notably Higher

The Japanese market is notably higher on Thursday, extending the gains in the previous session, following the mixed cues from Wall Street overnight. The Nikkei 225 is moving above the 51,250 level, with gains across most sectors led by technology and financial stocks. Index heavyweights were weak.
RTTNews | 3h 3minuter sedan
Indonesia Bourse May Extend Wednesday's Gains

Indonesia Bourse May Extend Wednesday's Gains

The Indonesia stock market on Wednesday ended the two-day slide in which it had fallen almost 30 points or 0.4 percent. The Jakarta Composite Index now sits just beneath the 8,390-point plateau and it may add to its winnings on Thursday.
RTTNews | 3h 16minuter sedan