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Started By
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Well, who will win? XOM/CVX arbitration over, should have verdict any day now.
Posted on 7/7/25 at 4:50 pm
Posted on 7/7/25 at 4:50 pm
The winner of this will have big ramifications. It could catapult ExxonMobil and cripple Chevron who has been on a long exploration losing streak for several years now.
I own XOM so and hoping they win this, not to mention they are the last unapologetic major in the business.
I own XOM so and hoping they win this, not to mention they are the last unapologetic major in the business.
7
Posted on 7/7/25 at 5:55 pm to GREENHEAD22
XOM has already won by delaying it either way
Posted on 7/7/25 at 6:03 pm to GREENHEAD22
Chevron/Hess will win , at least they should . But, Exxon does win the “2025 Troll of the Year” award.
Clearly, Hess was selling the whole company, not simply divesting their Guyana interest .
Clearly, Hess was selling the whole company, not simply divesting their Guyana interest .
Posted on 7/7/25 at 6:11 pm to GREENHEAD22
If I understand it right, XOM offered to purchase only the Guiana assets, and CVX put in to purchase HESS as a whole company...all assets.
If this is the case, I would think CVX wins
If this is the case, I would think CVX wins
Posted on 7/7/25 at 6:16 pm to evil cockroach
Approx 80% of Hess value is Guyana. The only reason for CVX to buy Hess is Guyana.
This post was edited on 7/7/25 at 6:27 pm
Posted on 7/7/25 at 7:42 pm to evil cockroach
Bull’s eye…
Exxon and CNOOC argue that Chevron’s takeover of Hess triggers this ROFR, meaning they should get the first opportunity to purchase Hess’s Stabroek stake.
Chevron and Hess counter that the acquisition is a corporate merger—not an asset sale—so the ROFR doesn’t apply
…in my best chatGPT voice. I think ROFR should not apply in M&A.
Exxon and CNOOC argue that Chevron’s takeover of Hess triggers this ROFR, meaning they should get the first opportunity to purchase Hess’s Stabroek stake.
Chevron and Hess counter that the acquisition is a corporate merger—not an asset sale—so the ROFR doesn’t apply
…in my best chatGPT voice. I think ROFR should not apply in M&A.
Posted on 7/7/25 at 7:43 pm to GREENHEAD22
XOM can't lose. They keep their interest in Guyana either way. The only question is does Hess remain their partner, or does CVX join the mix with XOM and China.
Posted on 7/7/25 at 9:53 pm to GREENHEAD22
quote:
not to mention they are the last unapologetic major in the business.
Chevron’s CEO seems to be as unapologetic about the industry as Exxon’s is, if not more.
Posted on 7/7/25 at 11:20 pm to GREENHEAD22
The downside for XOM is Hess is a shitty partner. CVX has bigger money and resources to pull from to accelerate asset development.
Posted on 7/8/25 at 7:15 am to dragginass
CVX joins the mix with XOM and CNOOC
From XOM senior VP:
“You have to protect your contractual right. The Chinese believe the same thing, and that’s why we went to arbitration,” Chapman said. “But if the judges decide that’s not the case, then we get a new partner, business carries on as normal.”
worldoil
From XOM senior VP:
“You have to protect your contractual right. The Chinese believe the same thing, and that’s why we went to arbitration,” Chapman said. “But if the judges decide that’s not the case, then we get a new partner, business carries on as normal.”
worldoil
This post was edited on 7/8/25 at 7:16 am
Posted on 7/8/25 at 7:49 am to C
True, CVX is the better partner. However XOM has the pockets to not need a partner and would rather have a bigger piece of the pie.
Posted on 7/8/25 at 10:20 am to GREENHEAD22
Chevron should win this one, but this was a no brainer for Exxon to take to arbitration. They know the potential value here and a few million in legal fees is nothing.
Chevron on the other hand cannot lose this one. If they do, the CEO has to step down. The company has been slowly dying with no exploration success and only adding reserves through acquisition. They need this to keep the stable for a few more years while they try to re-organize.
Chevron on the other hand cannot lose this one. If they do, the CEO has to step down. The company has been slowly dying with no exploration success and only adding reserves through acquisition. They need this to keep the stable for a few more years while they try to re-organize.
Posted on 7/18/25 at 7:38 am to TigerV
Posted on 7/18/25 at 8:02 am to ColoradoAg03
I just saw, dang. Oh well.
Posted on 7/18/25 at 9:21 am to ColoradoAg03
Yep, and they should have.
Posted on 7/18/25 at 9:30 am to TigerV
chevvy with the big victory, i think everyone expected it
so
chevron - hess
XOM - pioneer
shell - BP (they hope so anyway)
who's left? EOG, oxy, conoco?
so
chevron - hess
XOM - pioneer
shell - BP (they hope so anyway)
who's left? EOG, oxy, conoco?
Posted on 7/18/25 at 12:47 pm to The Egg
ConocoPhillips bought (or is buying) Marathon.
Oxy is next up to be gobbled.
Oxy is next up to be gobbled.
Posted on 7/20/25 at 12:31 pm to PenguinNinja
quote:
Oxy is next up to be gobbled.
Buffet already owns a significant portion. I’d bet on him just taking over the whole thing into Berkshire vs another company trying to acquire
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