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Tony Daltorio

Ignore Wall Street and Buy Chevron Stock on Guyana Growth Prospects

Chevron Hess Guyana Oil United States ExxonMobil

The U.S. oil industry continues to bet on an enduring future for fossil fuels. In the latest mega-deal, Chevron (CVX) will pay $171 per share for Hess (HES) in an all-stock transaction. Hess shareholders will receive 1.025 shares of Chevron for each Hess share, giving the company a total enterprise value of $60 billion, including debt.The relatively small premium Chevron is paying for Hess reflects the fact that its shares were trading close to an all-time high.

The acquisition will give Chevron a significant foothold in Guyana, the South American country that is one of the world’s newest oil producers. It will enable faster production growth and more generous returns to investors, according to Chevron.

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