Chevron's High Confidence Is Driving It to Wager Over $2 Billion That It Will Close This Needle-Moving Acquisition

In late 2023, Chevron (CVX 1.98%) made a bold move by agreeing to acquire Hess (HES 2.38%) for $53 billion. The transaction will enhance and extend the company's production and free cash flow growth outlook into the next decade. However, that deal hasn't closed yet because of a dispute with rival ExxonMobil (XOM 1.54%) over its lucrative partnership with Hess in offshore Guyana. The oil giants are battling in court over the deal. Chevron is so confident it will win that it recently bought about 5% of Hess' ...