Buffett buying up Oxy and is now at 30%. I would not put it past him to be behind the scenes talking to Chevron and Oxy CEO's about Chevron buying Oxy. If the Hess deal goes south it might be something that will happen in the next year or two.
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MW is licking his wounds from HESS and now thinking of a bigger deal to cap his career. Stay tuned for a BP buyout.
Can Chevron use the 1 biilion they got from Oxy to get out of the Hess deal? Exxon is going to tie that deal up until Wirth folds.
Chevron only way to get that yield level to with or above treasury yields is to do big merger like oxy or a Devon/Permian Resources Combo or Diamondback
It will be a surprise to no one with a brain once it happens
Chevron insiders been manipulating price down some to make it more attractive for icky sticky Vicki to get on with it all ready
Oxy has crummy assets. Their 1Q2024 earnings/boe produced were about 1/3 of ours. Buying Oxy would simply dilute our earnings, dropping us about 20%. What's the point?
Esso bought Pioneer with income/boe produced more than double Oxy.
Billion dollar in annual cost saving synergies. Trust me there's a whole buffet of reason Buffet wants this merger. Dem called dividends, y'all. Ya dig?
DJT will fix all of this. We'll Make Chevron Great Again and we'll start winning in any environment! We will win and we will win!
There is no upside to Buffet for a merger. Having both splits risk, and shares upside.
@zah incorrect.
the price would have been lower, but you need to add the debt incurred by Oxy that CVX would need to absorb.
The fact the Oxy hasn’t sold Barilla Draw should tell you all you need to know.
Oxy is as good as sold to Chevron.
Hess will be sold in parts, domestic goes to CVX and offshore goes to XOM.
We will the trade Hess Bakken acreage for the Permian assets that are at present time being held by the babysitter Continental.
No doubt this post gets delete so screen shot!
see the HR drones did their thing last night (sat night/sun am) and flooded the negative reaction counts
in a way it's cool because these little blips sting enough
confirmation feels good
LOL "Canada-like hatred of the US". As a Canadian growing up we would cheer for the Russians to beat the US in hockey.
The Hess deal is already south and I assure you it is dead, it will not go through. Mark my words.
They all know it that it will not happen just holding to get their stocks and benefits before leaving their positions.
@OP : "If the Hess deal goes south ..."
If the Hess deal goes south - the mother of all shareholder lawsuits will end MW tenure.
BTW, YTD Returns (source: YTDReturn.com, through 6/21/24):
CVX - 6.27. %
XOM - 12.72 %
That FTC approval "in the coming weeks" mentioned by MW in 1Q24 Shareholder meeting is now due.
Have a nice day.
Just like Hess, buy the assets, dump the employees. VH embarrassed MW, they can't be in the same room at the same time.
Chevron should have done it when Oxy price plummeted after they acquired Anadarko and the Pandemic hit. CVX could have got both for less then what we were willing to pay for Anadarko alone. Mike Wirth should not have chickened out of Anadarko deal in the first place given the great fit. At least he claimed success with Wall st for not paying to much - Short term accolades seem to be more important to him then long term growth.
That would never happen. Oxy has major hatred of Chevron for some reason. It's a Canada-like hatred of the US. They even bought a huge billboard at Minute Maid specifically to dwarf the Chevron sign.