Hess Merges with Chevron, Becoming Part of Larger Energy Giant

Hess Corporation's stock has become part of Chevron following a merger completed on July 18, 2025. The exchange ratio was 1.0250 Chevron shares for each Hess share, making this transaction the definitive reference point for former Hess investors.

The merger transferred Hess' 30% interest in Guyana's Stabroek Block into Chevron's portfolio, which contains over 11 billion barrels of oil equivalent in discovered recoverable resources. Additionally, Hess contributed 463,000 net Bakken acres and production assets in the Gulf of America and Southeast Asia.

Chevron announced that the combination is expected to deliver $1 billion in annual run-rate cost synergies by the end of 2025. This target and the Guyana stake explain why the deal remains a key reference for Hess Corporation stock, even after the standalone listing ended.