ExxonMobil vs Chevron - Apr 2024 Update: The Gist: (1) The trade off between share price leadership of XOM and CVX is driven by subtle differences in return on capital profiles. (2) Difference in returns on capital are primarily driven by (a) downstream exposure and (b) the upstream portfolios. (3) XOM & CVX have been replacing reserves while the cost (F&D) to do so is relatively low. The battle for Guyana, and thus Hess, is key for who wins the next decade of returns.
April 23, 2024, 11:01 a.m.
A Series Of Uncommon Events Threatens Chevron Buyout Of Hess: ExxonMobil took the step of filing for arbitration before the International Chamber of Commerce in Paris Wednesday to secure its claim to pre-emption rights in the prolific Stabroek field offshore Guyana, where it serves as operator. The move creates uncertainty over Chevron’s plans to acquire Houston-based Hess Corp. and its 30% interest in the development.
March 7, 2024, 1:01 p.m.
Is Chevron’s $53 Billion Buyout Of Hess In Trouble?: A story published at the Wall Street Journal late Monday characterizes Chevron’s CVX proposed $53 billion buyout of Houston-based Hess HES Corp. as being “in jeopardy” related to Hess’s 30 percent ownership in the prolific Stabroek Block development offshore Guyana. The massive Stabroek oil and natural gas resource is under development by a consortium operated by ExxonMobil
Feb. 27, 2024, 2:28 p.m.
The US Domestic Oil Industry Closes A Remarkably Strong 2023: Ryan Lance (R), Chairman and CEO of ConocoPhillips, speaks while John Hess (C), CEO of Hess Corporation, and Daniel Yergin, Vice chairman of S&P Global listen during CERAWeek by S&P Global in Houston, Texas on March 7, 2023. (Photo by Mark Felix / AFP) (Photo by MARK FELIX/AFP via Getty Images)
Dec. 31, 2023, 1:46 p.m.
Forbes Story: Guyana Oil Development Back In Focus After Chevron, Hess Deal: A woman poses for photos in Georgetown, Guyana, Wednesday, April 12, 2023. Guyana had the world's fastest growing economy in 2022, spurred by the Stabroek offshore oil development. (AP Photo/Matias Delacroix) COPYRIGHT 2023 THE ASSOCIATED PRESS. ALL RIGHTS RESERVED
Nov. 8, 2023, 1:17 p.m.
Forbes Analysis: Chevron Buyout Of Hess Highlights Renewed Focus On Production Growth: Chevron CEO Mike Wirth (R) speaks with S&P Global Vice Chairman Daniel Yergin during CERAWeek by S&P Global in Houston, Texas on March 6, 2023. (Photo by Mark Felix / AFP) (Photo by MARK FELIX/AFP via Getty Images) [Note: This story is also published at Forbes.com
Oct. 24, 2023, 3:20 p.m.
Forbes Piece: Chevron Buys Hess As The U.S. Oil Merger Train Gains Steam: Mike Wirth, chairman and chief executive officer of Chevron Corp., during a Bloomberg Television interview in New York, US, on Monday, Sept. 18, 2023. Wirth said oil probably is headed for the $100 mark soon amid tightening supplies. Photographer: Christopher Goodney/Bloomberg
Oct. 23, 2023, 12:57 p.m.
The rebirth of Hess - A History Revisited: The gist of this post: The rebirth of Hess offers us a glimpse that the world is willing to stomach more oil & gas capex. The second half of this post is a financial history of the company. The world of oil & gas has been obsessed with four major themes over the last 3 years.
Oct. 20, 2023, 11 a.m.
German Election Results Show a Public Tiring of Government Deceit: In case you missed it, the German states of Bavaria and Hesse held elections over the weekend, and big gains were made by two conservative parties that stand as the main opposition to the country’s ruling coalition. Naturally, the few U.S. media outlets bothering to cover the outcome characterize both the Alternative for Germany (AfD), and the Christian Social Union (CSU), a sister-party to the center-right Christian Democratic U
Oct. 9, 2023, 5:58 p.m.
Chartbook 242: What is wrong in Germany? And an (interesting) correction. : The drubbing handed out to Germany’s governing parties in the regional elections in Bavaria and Hesse is indicative of the current mood. Each region has its special characteristics, but Hesse and Bavaria are very significant pieces of the German Federal jigsaw puzzle and for Chancellor Scholz’s SPD to come behind the AfD in both states is humiliating.
Oct. 9, 2023, 1 p.m.
