Chevron Chairman and Chief Executive Michael Wirth, says Noble Energy's assets play to Chevron's operational strengths. Chevron will take over Noble Energy for US$5 billion in the first big deal announced since the coronavirus pandemic shook the energy sector. Based on Chevron's closing price on Friday, Noble Energy shareholders will receive 0.1191 shares of Chevron for each Noble Energy share. Energy companies had been taking on enormous debt even before the pandemic and energy prices have bouncing all over the place. It's found another match in Noble Energy.

Source: The Standard July 20, 2020 12:33 UTC