Chevron announces deal to buy Noble Energy
On Monday (20), the oil company Chevron announced that it has reached an agreement to buy Noble Energy in a deal that involves only shares and values the company at 5 billion dollars.
The offer values Noble at $10.38 per stock, or 0.1191 Chevron stock, with a 7.5% premium compared to the paper's close on Friday. The deal, the Houston-based oil and gas production company, is worth about $13 billion if it is considered debt.
Noble's assets will expand Chevron's presence in the DJ basin, the Placed, and the Permian Basin, between West Texas and New Mexico. In addition, they would also generate synergies with Chevron's assets in the eastern Mediterranean and West Africa, generating potential cost reductions of $300 million.
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