---
schema_version: "secwatch.filing_event.v1"
accession: "0000950142-23-001491"
form_type: "8-K"
ticker: "CVX"
cik: "0000093410"
company_name: "CHEVRON CORP"
filed_at: "2023-05-22T23:59:59+00:00"
generated_at: "2026-06-14T19:01:47.502841+00:00"
event_type: "m_and_a"
sentiment: "positive"
materiality_score: 0.85
calibrated_materiality_score: 0.85
confidence: "high"
source: SEC EDGAR
---

# Chevron to acquire PDC Energy in all-stock deal valued at $6.3B

## Summary
- Total enterprise value of $7.6B including debt; PDC shareholders get 0.4638 CVX shares per PDCE share.
- Acquisition adds 10% to proved reserves at less than $7 per BOE; expected to add ~$1B annual FCF at $70 Brent.
- Deal unanimously approved by both boards; expected to close by year-end 2023, subject to PDC shareholder and regulatory approvals.
- Chevron expects ~$100M pre-tax cost synergies and ~$400M capex efficiencies; capex guidance raised to $14-16B through 2027.

## SEC filing metadata
- accession: 0000950142-23-001491
- form_type: 8-K
- ticker: CVX
- cik: 0000093410
- company_name: CHEVRON CORP
- filed_at: 2023-05-22T23:59:59+00:00
- event_type: m_and_a
- sentiment: positive
- materiality_score: 0.85
- calibrated_materiality_score: 0.85
- confidence: high
- sec_items: 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/93410/000095014223001491/0000950142-23-001491-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/93410/000095014223001491/eh230361398_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000950142-23-001491
- JSON: https://secwatch.observer/filing/0000950142-23-001491.json
- Plain text: https://secwatch.observer/filing/0000950142-23-001491.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.