Chevron Makes Splash With Anadarko Petroleum Acquisition; FVE Unchanged
Chevron announced an agreement to acquire Anadarko Petroleum for $65 per share, consisting of 0.3869 share of Chevron and $16.25 of cash per Anadarko share. The total offer price represents an 18% premium to our $55 fair value estimate for Anadarko. With the deal, Chevron adds new positions in the DJ Basin unconventional play and an operating stake in the Mozambique liquefied natural gas project and expands its already large Gulf of Mexico and Permian footprint. Chevron expects to derive $2 bill...Chevron is engaged in energy and chemicals operations. Upstream operations consist primarily of, among others, exploring for, developing and producing crude oil and natural gas; processing, liquefaction, transportation and regasification associated with liquefied natural gas, storage and marketing of natural gas; and a gas-to-liquids plant. Downstream operations consist primarily of, among others, refining crude oil into petroleum products; marketing of crude oil and refined products; and manufacturing and marketing of commodity petrochemicals, plastics for industrial uses and fuel and lubricant additives.
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