{"id":363851,"date":"2020-07-21T10:00:23","date_gmt":"2020-07-21T04:30:23","guid":{"rendered":"https:\/\/infralive.com\/web\/?p=363851"},"modified":"2020-07-21T10:18:17","modified_gmt":"2020-07-21T04:48:17","slug":"chevron-to-buy-noble-energy-for-nearly-5-billion-in-rare-oil-bust-deal","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/chevron-to-buy-noble-energy-for-nearly-5-billion-in-rare-oil-bust-deal\/","title":{"rendered":"Chevron to buy Noble Energy for nearly $5 billion in rare oil-bust deal"},"content":{"rendered":"<p>Chevron agreed to buy Noble Energy for about $5 billion in shares as the oil giant looks to beef up amid the wreckage of the worst-ever crude crash. The takeover is the industry\u2019s first major deal since the coronavirus triggered a severe slump and the largest since Occidental Petroleum outbid Chevron to acquire Anadarko Petroleum for $37 billion last year. <\/p>\n<p>The deal will grow Chevron\u2019s shale presence in both the Permian Basin, once the main driver of the US shale boom but now experiencing a sharp reduction in drilling, and the Denver-Julesburg Basin in Colorado. It will increase the company\u2019s proved reserves by about 18 per cent compared with what it reported at the end of 2019.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Chevron agreed to buy Noble Energy for about $5 billion in shares as the oil giant looks to beef up amid the wreckage of the worst-ever crude crash. The takeover is the industry\u2019s first major deal since the coronavirus triggered a severe slump and the largest since Occidental Petroleum outbid Chevron to acquire Anadarko Petroleum for $37 billion last year. The deal will grow Chevron\u2019s shale presence in both the Permian Basin, once the main driver of the US shale boom but now experiencing a sharp reduction in drilling, and the Denver-Julesburg Basin in Colorado. It will increase the company\u2019s [&hellip;]<\/p>\n","protected":false},"author":40,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[135,130,169],"tags":[],"class_list":["post-363851","post","type-post","status-publish","format-standard","hentry","category-business-standard-newspapers","category-newspapers","category-oil-gas-business-standard-newspapers"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/363851","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/users\/40"}],"replies":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/comments?post=363851"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/363851\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=363851"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=363851"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=363851"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}