- Chevron will acquire PDC Energy for 7.6 billion dollars, including debt, strengthening its position in the production basins of the United States.
- The deal will generate solid revenue, production balance and development opportunities.
- The merger will increase Chevron’s reserves by 10% at a cost of less than $7 per barrel of oil.
Chevron Corp said Monday, May 22, that it will buy PDC Energy in a transaction involving 100 percent of the shares.
The total disbursement will be for 7,600 million dollars, including debt.
The US oil company said the deal with PDC will generate strong annual cash inflow, balanced production and new and adjacent development opportunities to Chevron’s in the Denver-Julesburg basin, as well as more acreage to the company’s holdings in the Permian Basin, all in the United States.
The idea is that the deal grows Chevron’s reserves by 10 percent at a purchase cost of less than $7 per barrel of oil, public Business Wire.
WTI barrel futures are trading this Monday at $71.78.
“PDC’s assets strengthen Chevron’s position in key US production basins,” said Chevron President and CEO Mike Wirth.
“This transaction adds to all financial measures and enhances Chevron’s goal of delivering higher yields and lower carbon emissions. We look forward to welcoming the PDC team and shareholders to Chevron and continuing both companies’ focus on safe and reliable operations,” he added.
Brookman, president and CEO of PDC, meanwhile, said that “the merger with Chevron is a great opportunity for PDC to maximize its value” and that the “organizations are complementary.”
[noticia en desarrollo]
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