https://www.reuters.com/business/energy/exxon-signals-potential-counter-offer-hesss-guyana-assets-2024-03-06/
15 replies (most recent on top)
Chevron aint walking away from $1.7bil. LMAO! Seriously some of you are completely lost.
Exxon is shrewdly trying to stymie the deal. If this goes to international arbitration, it could easily be tied up in court for years and years. Chevron will likely walk away.
@2tex+,
Chevron will not drop the deal. The deal will fail due to Hess not fulfilling its part of the contract to deliver its assets. This could not be more clear.
@2uhi - here's id--tic:
"Wirth won a $1 billion breakup fee in the Anadarko loss, but Exxon said this week it would consider exercising its preemption right if Chevron pursues its bid. If Chevron drops the deal, Hess could be potentially off the hook for a $1.7 billion break up fee."
so everything's riding on an international court arbitration ? - great strategic move.
wondering, will the bod ever be held accountable for their c-suite krewe ?
I would agree that Wirth has made a lot of bad decisions in terms of long-term growth. I also wish he matched OXY's offer for APC. But that's not relevant to this discussion. Wirth made a good decision in regards to the HESS deal. Either Chevron ends up with a high quality asset with excellent growth potential or we walk away with $1.7 billion. Are you seriously telling me that Wirth should have not made the deal for Hess even if he knew the transaction would fail? Miss out on a free $1.7billion? That's id--tic.
Sure getting another deal break up reward is “something” but in the bigger picture Chevron really needs more assets/reserves with long-term growth potential. The Permian will be in steep decline in 5 years and many of our other assets are already in old age decline. If we are unable to find oil ourselves (for whatever reason), we really missed to boat not shopping during the pandemic (we could have had Oxy (with Anadarko’s assets) for cheaper that we were willing to pay for Anadarko alone a few years earlier.
You guys are hysterical. Only on this delusional board is getting a free $1.7B considered an embarrassment. If that's an embarrassment then I want to be freaking humiliated!
If you consider the boobie prize or wooden spoon consolation "winning", then yes, MW wins. In real life, we are a laughingstock due to these strategic mis-steps.
Is this what Chevron calls winning??? It’s an embarrassment really. Especially for those brainwashed.
Not really a fumble. Even if the deal fails, Chevron gets $1.7B breakup fee. Sorry to tell you that Wirth wins either way.
“The truth is that Wirth has been disastrously slow to come to the party and a step behind on almost everything,” said Bill Smead, founder and chairman of Smead Capital Management,
Esso has stated they have ironclad rights. I suspect they do.
Not really a fumble. Even if the deal fails, Chevron gets $1.7B breakup fee. Sorry to tell you that Wirth wins either way.
MKW do better
It is just noise
Did anyone see this fumble coming??! Bwahahahahahaha. CVX. What a joke.