M&A: Chevron to acquire Hess. What it means for the region

(Originally published on October 31, 2023)

Last week, we saw the announcement that Chevron have agreed to acquire Hess in an all-stock deal valued at US$ 53 billion. Whilst the deal is clearly driven by Hess' assets in North American and Guyana, they do have production in Southeast Asia, offshore Peninsular Malaysia and the MTJDA. In this article, I will review the assets held in the region by both companies and consider what the deal could mean for these assets.

I have not looked at Chevron's assets in Australia in this article as I don't believe the acquisition will see any change in strategy for these assets.