Chevron Acquires Hess Corporation for USD 53 Billion
The Hess Corporation stock ceased to be an independently traded exploration and production company on July 18, 2025, after Chevron completed its acquisition of the energy company for USD 53 billion. As reported by The New York Times, Chevron absorbed the Hess assets, marking a significant shift in the company's ownership.
According to the Hess Corporation website, the completion date is crucial because it signifies the end of Hess as an independently traded entity and its transition into Chevron's broader upstream portfolio.
The acquisition highlights Guyana's importance, particularly the ONE GUYANA floating production, storage, and offloading vessel at the Stabroek Block offshore Guyana. The vessel has an initial production capacity of 250,000 gross barrels of oil per day, demonstrating why Guyana was central to Chevron's rationale for the transaction.
The former HES security closed at USD 148.97 on July 18, 2025, unchanged from its prior close, with a market capitalization of USD 46,072,102,062 and a 52-week range of USD 123.79 to USD 161.69. Against the USD 161.69 52-week high, the price was 7.86 percent lower.