Chevron Flags $400 Million Hit From Hess Megadeal

Chevron Flags $400 Million Hit From Hess Megadeal

Chevron is bracing for a quarterly dent of up to $400 million as the cost of absorbing Hess filters through its books. The company said Thursday it expects a third-quarter loss of $200 million to $400 million tied to the $55 billion acquisition, with adjusted earnings clipped by $50 million to $150 million once severance and other transaction charges are stripped out. The buyout, finalized in July after Chevron won a high-stakes arbitration agai…

Chevron Expects Up To $400MM in 3Q Losses from Hess Acquisition

Chevron expects to book losses of $200-400 million from its purchase of Hess in its third-quarter results.

Chevron expects up to $400 million quarterly impact from Hess deal – Oil & Gas 360

(BOE Report) – Chevron said on Thursday it was expecting a loss of $200 million to $400 million in the third quarter due to the impact related to the acquisition of Hess. Chevron closed its $55 billion buyout of Hess in July after winning a landmark legal battle against larger rival Exxon Mobil to gain access to the largest oil discovery in decades. Excluding severance charges and other costs related to the $55 billion transaction, the U.S. energ

Chevron Expects up to $400 Million Quarterly Impact from Hess Deal - Energy News, Top Headlines, Commentaries, Features & Events

Chevron said on Thursday it was expecting a loss of $200 million to $400 million in the third quarter due to the impact related to the acquisition of Hess. Chevron closed its $55 billion buyout of Hess in July after winning a landmark legal battle against larger rival Exxon Mobil to gain access to the largest oil discovery ...