Chevron completes acquisition of Hess Corporation on July 18, 2025

CHEVRON CORP

Chevron now owns a 30% interest in the Guyana Stabroek Block with over 11 billion barrels of discovered recoverable resources.
Hess shareholders receive 1.0250 Chevron shares per share; approximately 301 million shares to be issued from treasury.
FTC lifts restriction, clearing John Hess to join Chevron's Board of Directors, subject to Board approval.
Chevron expects $1 billion in annual run-rate cost synergies by end of 2025 and accretive cash flow per share.
Combination adds 463 thousand net acres in Bakken and complementary assets in Gulf of America and Southeast Asia.

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