The acquisition of US hydrocarbon exploration company Anadarko will significantly enhance Chevron’s upstream portfolio and strengthen its positions in large, attractive shale, deepwater and natural gas resource basins.
“This transaction builds strength on strength for Chevron,” Chevron’s Chairman and CEO Michael Wirth said. “The combination of Anadarko’s premier, high-quality assets with our advantaged portfolio strengthens our leading position in the Permian, builds on our deepwater Gulf of Mexico capabilities and will grow our LNG business. It creates attractive growth opportunities in areas that play to Chevron’s operational strengths and underscores our commitment to short-cycle, higher-return investments,” he said, adding that this transaction will unlock significant value for shareholders, generating anticipated annual run-rate synergies of approximately $2 billion and will be accretive to free cash flow and earnings one year after close.
Full article available: https://www.neweurope.eu/article/chevron-to-acquire-anadarko-strengthening-shale-lng-position/