Chevron snaps up Noble in first big deal since oil price slumped
CHEVRON has agreed to buy Noble Energy for $13bn (£10.3bn) in the oil industry's first big deal since the coronavirus crisis sent the price of crude plummeting.
The tie-up values Houston-based oil and gas producer Noble at about $5bn, excluding an $8bn debt mountain.
The deal is expected to broaden Chevron's reach into a valuable drilling region spanning West Texas and New Mexico, known as the Permian Basin.
Chevron said it would seek to slash costs by $300m a year following t...