Chevron Corporation announced on Monday, it conceded to buy Noble Energy in a deal worth of Us $5 billion.
A company of standard oil, Chevron entered an all-stock transaction with Noble Energy, a top independent energy company.
Following a heavy debt burden of the incorporation, the Noble has a transaction with Chevron valued at approximately US$13 billion.
Based on the terms of the deal, Noble Energy stockholders will gain 0.1191 shares of Chevron per share. The business deal gives Chevron an opportunity to participate more strongly in the DJ Basin of Colorado and the Permian Basin across West Texas and New Mexico. Furthermore, Chevron’s credits will develop in other places like the West Africa and East Mediterranean.