featurenoble energy is now chevron
Chevron has completed its acquisition of Noble Energy, an independent oil and natural gas exploration and production company.
“We are pleased to welcome Noble Energy’s employees and shareholders to Chevron. Noble’s high-quality assets complement Chevron’s advantaged upstream portfolio, and the combination is expected to deliver strong financial benefits."
Chevron Chairman and CEO
The acquisition of Noble Energy provides Chevron with low-cost, proved reserves and attractive undeveloped resources that will enhance an already advantaged upstream portfolio. Noble Energy brings low-capital, cash-generating offshore assets in Israel, strengthening Chevron’s position in the Eastern Mediterranean.
Noble Energy also enhances Chevron’s leading U.S. unconventional position with de-risked acreage in the DJ Basin and 92,000 largely contiguous and adjacent acres in the Permian Basin.
- Low cost acquisition of proved reserves and attractive undeveloped resource.
- Strategic fit: Noble Energy’s assets will enhance Chevron’s portfolio with a new US onshore unconventional position in the DJ Basin, complementary acreage in the Permian, a large-scale producing Eastern Mediterranean position with additional resource potential and other assets including interest in Noble Midstream Partners, Equatorial Guinea and Eagle Ford.
Published: October 2020