Takeover Battle: Occidental Offers $57 Billion for Anadarko, Topping Chevron

By Jennifer Hiller HOUSTON, April 24 (Reuters) - Oil and gas producer Occidental Petroleum Corp on Wednesday made a $57 billion bid for Anadarko Petroleum Corp, topping Chevron Corp's $50 billion offer and sparking the first takeover battle for a major oil company in years. The surprise $76-per-share bid comes after Occidental had been trying to woo Anadarko and had made two … [Read more...]

Chevron to Acquire Anadarko in $33 Billion Energy Mega-Merger

By John Benny and Jennifer Hiller April 12 (Reuters) - Chevron Corp on Friday said it will buy Anadarko Petroleum Corp for $33 billion in cash and stock as the company doubles down on its bet on U.S. shale oil and gas production, where the surge in output has made the United States the world's largest energy producer. With oil prices surging this year, Chevron and … [Read more...]

Chevron Announces Start of Production at Big Foot Project in U.S. Gulf of Mexico

Oil major Chevron (NYSE:CVX) has announced the start of crude oil and natural gas production from the Chevron-operated Big Foot deepwater project in the U.S. Gulf of Mexico. The field is located approximately 225 miles (360 km) south of New Orleans, La., in a water depth of approximately 5,200 feet (1,584 m.). The Big Foot field was discovered in 2006 and is estimated to … [Read more...]

Chevron Quits Norway as Wider Retreat Looms From Aging North Sea

By Mikael Holter (Bloomberg) -- Chevron Corp. is selling its last remaining oil exploration license in Norway, putting it one step closer to a full retreat from the aging North Sea basin as the U.S. major seeks higher returns elsewhere. Chevron’s activity off Norway has been limited for years, but the company’s decision to relinquish its last asset in the country again shows … [Read more...]

Deepwater Oil Starting to Hold Its Own With Shale, Chevron Says

By David Wethe (Bloomberg) -- Chevron Corp. is studding the ocean floor with heavy-duty pumping gear as part of an effort to make deepwater oil discoveries competitive with shale. The idea is to force crude from newly drilled wells in the deepest parts of the Gulf of Mexico to flow through miles and miles of pipe to platforms built a decade or more ago, said Jay Johnson, … [Read more...]