Chevron’s $5 Billion Takeover Adds Key Shale And Offshore Assets

Chevron has decided to acquire Noble Energy in a $5 billion deal, expanding its footprint in U.S. shale and in the Eastern Mediterranean. The acquisition is the first major M&A deal since the onset of the global pandemic.  Noble Energy is active in the DJ Basin and in the Permian. The deal – totaling $13 billion when including debt – will increase Chevron’s proved reserves by 18 percent from year-end 2019 levels. “This is a cost-effective opportunity for Chevron to acquire additional proved reserves and resources.…