Chevron to close Nobel Energy deal for $5 billion
Tuesday, October 6, 2020
Chevron is completing the biggest energy deal since the COVID-19 pandemic crippled the oil industry and purchasing Nobel Energy for $5 billion, according to CNN.
Nobel Energy shareholders will receive Chevron stock in the all-stock transaction.
Factoring in Nobel’s $8 billion in debt, the transaction is valued at $13 billion. Despite, the company’s debt, its assets are an attractive and relatively cheap buy for Chevron.
Learn more: CNN > Chevron will buy Nobel Energy for $5 billion – the biggest oil deal since the pandemic
Leave a Comment
Marcellus & Utica Shale Well Map
Additional Shale Maps
Shale FAQ
What is fracking?
Fracking is a slang term for hydraulic fracturing. Fracturing is a process by which highly pressurized fluid is pumped thousands of feet into the ground to fracture rock formations. The goal is to release the natural gas that’s locked inside the rock.
Is it safe?
What most concerns people about fracturing is ground water contamination. The worry is that fractures underground, caused by the process, will extending upwards and into aquifers, releasing gas and chemicals into the ground water supply. There’s been no confirmed reports of such a thing happening. Though surface spills and drill site blowouts can lead to localized environmental concerns.
Will my water catch on fire?
Flammable water is caused by the release of methane gas into a drinking water supply. Methane gas occurs naturally and can be released by any kind of drilling, including water wells. In Pennsylvania officials fined Chesapeake Energy $1 million for contaminating ground water with methane. It was determined that the company had not properly cemented it’s boreholes and gas migrated up the well, between rock and into aquifers.