Chevron Buys Noble For $5 Billion

[BALBOA + 37]

Chevron announced it would acquire Noble Energy for $5 billion. It's the biggest energy deal since the Covid-19 pandemic decimated the oil industry.

America's shale oil and gas industry has been hit hard during the pandemic. Demand has tumbled as people stopped traveling and commuting. And energy pries fell as an ill-timed global oil standoff temporarily increased supply while people were using less oil. 

Making matter worse, many energy producers had incurred piles of debt to fund their operations before the current recession hit. 

https://www.cnbc.com/2020/07/20/chevron-to-buy-noble-energy-in-a-5-billion-deal.html

[Prometheus1354 + 178]

Looks to be a solid move by Chevron.  Certainly getting a good piece of the puzzle goin forward and will IMHO prove too be a much better acquisition than Anadarko would have.

In my estimation they will more than recoup this investment just from Leviathan moving forward.