Chevron is moving forward with its massive $53 Billion acquisition of Hess Corporation. This comes after winning a high-stakes legal battle against ExxonMobil. The dispute centers on rights to one of the most significant oil discoveries in decades is located off the coast of Guyana.

The Houston-based energy giant Chevron will lay off 575 employees from the Downtown Hess Tower following its $53 billion acquisition of Hess Corp ., according to the company.

Chevron is expected to lay off more than 500 employees in Houston this fall as part of its integration with Hess Corporation, the company confirmed Thursday.

Chevron’s Hess deal boosts Guyana exposure and adds shale growth, while strong cash flow and returns support its outlook. Learn why CVX stock is a buy.

Chevron Corporation (NYSE: CVX) announced today that it has completed its acquisition of Hess Corporation (NYSE: HES) following the satisfaction of all necessary closing conditions, including a favorable arbitration outcome regarding Hess’ offshore Guyana asset.

Chevron will lay off nearly 600 legacy Hess workers after its $55 billion acquisition July 18, according to the Texas Workforce Commission.

Chevron Corp. won its arbitration battle with Exxon Mobil Corp. and has closed its $53-billion deal to buy Hess Corp. more than 20 months after the takeover was announced.

The conclusion of the saga removes a stock overhang for Chevron and paved the way for the $53 billion deal to close immediately.

We came across a bullish thesis on Chevron Corporation on Stock Analysis Compilation’s Substack. In this article, we will summarize the bulls’ thesis on CVX. Chevron Corporation’s share was trading at $149.