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.

The changes will go into effect prior to the start of trading on July 23, according to a press release from S&P Dow Jones Indices

Chevron has prevailed against Exxon Mobil in a dispute over Hess Corporation’s offshore oil assets in the South American nation of Guyana.

Takeover arbitragers, which have included Warren Buffett, are having a favorable 2025 after two disappointing years.

Hess Midstream offers stable returns via a fee-based model and Hess Corp partnership, but risks like concentration and debt loom. See more on HESM here.

The share price of Hess Corporation (NYSE:HES) surged by 6.91% between July 7 and July 11, 2025, putting it among the Energy Stocks that Gained the Most This Week. Hess Corporation (NYSE:HES) is a leader in deepwater development and production,

Hess Midstream LP (NYSE: HESM) ("Hess Midstream") announced today that following the completion of the merger between Hess Corporation ("Hess") and Chevron Corporation ("Chevron"), Hess Midstream’s general partner has appointed new members to its Board of Directors (the "Board") and has appointed new executive officers.