Chevron Corp. has completed its purchase of Denver-based PDC Energy, making the multinational company Colorado’s largest oil and gas producer.
Chevron Corp. has completed its purchase of Denver-based PDC EnergyChevron said Monday that the purchase was a done deal after PDC shareholders approved the acquisition. The all-stock transaction was valued at $7.6 billion, including debt.
“Once we combine these, we are about the fourth-largest business unit inside Chevron globally for production,” McHugh said. “We’re a measurable producer for the company and we add to the free cash flow and the barrels. It’s an exciting time.” Chevron’s acquisition is among several moves that have consolidated Colorado’s oil and gas production.In 2021, Denver-based Bonanza Creek Energy and Extraction Oil and Gas Inc. merged to create
Colorado was the fifth-largest crude oil-producing state in 2022, with 82% of the production coming from Weld County, according to thePDC Energy and Chevron each have 500 employees in Colorado. McHugh said Chevron is holding town halls and to talk to workers about plans for blending the companies and what kinds of changes will be made.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Clean energy can fuel the future — and make the world healthierResearch challenges the myth that clean energy acts as a brake on global economic development. Carbon emissions hit new high: warning from COP27 Achieving the energy-access targets was always going to be a stretch, but progress has been slow elsewhere, too. Take energy efficiency. More energy efficiency means less pollution, and energy efficiency has increased by around 2% annually in the past few years.
Read more »
Trucking giant Yellow Corp. declares bankruptcy after years of financial strugglesFormer Yellow customers and shippers will face higher prices as they take their business to competitors, experts say.
Read more »
Trucking giant Yellow Corp. declares bankruptcy after years of financial strugglesIt comes just three years after Yellow received $700 million in pandemic-era loans from the federal government.
Read more »
Trucking giant Yellow Corp. declares bankruptcy after years of financial strugglesTrucking company Yellow Corp. has declared bankruptcy after years of financial struggles and growing debt, marking a significant shift for the U.S. transportation industry and shippers nationwide.
Read more »
Trucking giant Yellow Corp. declares bankruptcy after years of financial strugglesTrucking company Yellow Corp. has declared bankruptcy after years of financial struggles and growing debt, marking a significant shift for the U.S. transportation industry and shippers nationwide.
Read more »
Yellow Corp. Files for Bankruptcy, Leaving 30,000 Workers JoblessYellow Corp., a prominent US trucking company, has filed for bankruptcy, leading to the closure of its 99-year-old business and leaving 30,000 employees unemployed. The Nashville-based logistics provider announced its Chapter 11 filing in the US Bankruptcy Court, expressing deep disappointment over the decision.
Read more »