Chevron Acquires Hess, Eyes Prosperous Guyana, Bakken Assets

July 21, 2025--Researched by Industrial Info Resources (Sugar Land, Texas)--Dust off your best duds and break out the champagne: U.S. supermajor Chevron Corporation (Houston, Texas) and Hess Corporation (New York, New York) are getting hitched. Chevron announced Friday it had closed its $55 billion acquisition of the oil and gas developer, immediately following two big wins: an arbitration victory over Exxon Mobil Corporation (Spring, Texas) concerning Hess' high-value Guyana assets, and the Federal Trade Commission's (FTC) decision to allow Hess' chief executive officer to serve on Chevron's Board of Directors. Industrial Info is tracking about $27 billion worth of active and proposed projects worldwide from Chevron. The company will now reap the benefits of partnering with Hess in one of the world's fastest-growing oil developments. Last year, Hess reported $3.1 billion in earnings from its Guyana holdings, up from $1.9 billion in 2023. Other companies featured: China National Offshore Oil Corporation