Chevron Corporation (NYSE: CVX) announced today that it has completed its acquisition of Hess Corporation (NYSE: HES) following the satisfaction of all necessary closing conditions, including a favorable arbitration outcome regarding Hess’ offshore Guyana asset.

Chevron Corp. is on the cusp of reaching a production plateau in the largest US oil field, allowing it to reap billions of dollars of additional cash flow in the next few years.

Forty-odd years after leaving the employ of the refinery, the St. Lucian-born Edward was diagnosed with multiple myeloma, a cancer of the blood's plasma cells. According to the lawsuit, Mr. Edward was diagnosed in July 2023, and died at the end of September 2024.

Chevron struck the deal to acquire Hess in October 2023. Exxon tried to block the move last year, saying it had a right of first refusal to buy Hess’ Guyana assets because of its joint operating agreement with Hess and the China National Offshore Oil Corp., or Cnooc, for the Stabroek Block.

Exxon Mobil Corporation dispute, Guyana's oil profits, and Chevron's 2026 cash flow outlook. Click for my CVX update.

Hess Corp.'s planned $53 billion sale to Chevron Corp.—which could close imminently if an arbitration panel rejects a challenge by Exxon Mobil Corp.—was likely engineered to favor CEO John Hess, according to a lawsuit filed Thursday.

Chevron completed its $53 billion acquisition of Hess after all legal hurdles were cleared, including the company's vast oil fields off the coast of Guyana.

The acquisition of Hess—and its stake in a generational oil find—helps clear up lingering doubts about Chevron’s growth prospects.