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re: Chevron’s $53 Billion Deal for Hess in Jeopardy on Possible Exxon Challenge
Posted on 2/27/24 at 5:31 am to Capt ST
Posted on 2/27/24 at 5:31 am to Capt ST
quote:
You own 30%, Exxon owns 45% and you just think you can up and sell it without giving them first right of refusal?
Happens all the time in acquisitions. However, as others have stated, it depends on what the operating agreement states. Your standard, unedited AAPL JOA form, I THINK (it’s been a while since I read through one) allows for first right of refusal should a party decide to sell its interests in the leases/AMI area; however, I don’t believe that right applies should one of the parties be bought.
I’d imagine, though, that neither Exxon or Hess just simply went with the standard form and didn’t redline or amend anything.
This post was edited on 2/27/24 at 5:32 am
Posted on 2/27/24 at 7:06 am to ragincajun03
This is one of the biggest reserves found in over 50 years. It single-handedly keep Hess from going under and turned Exxons trajectory completely around. They are still delineating the exact size and some think when its all said it done they will double the current reserves.
Will be interesting how this plays out.
Will be interesting how this plays out.
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