(Bloomberg) — Chevron Corp. agreed to buy Noble Energy Inc. for about $5 billion in shares as the oil giant looks to beef up in the Permian Basin amid the wreckage of the worst-ever crude crash.The takeover is the industry’s first major deal since the coronavirus triggered a severe slump and the largest since Occidental Petroleum Corp. outbid Chevron to acquire Anadarko Petroleum Corp. for $37 billion last year.The deal will grow Chevron’s presence in both the Permian, once the main driver of the shale boom, and the Denver-Julesburg Basin in Colorado. Its proved reserves will rise by about 18%. …read more
Source:: Yahoo Finance
