Chevron won its hotly contested legal battle against rival Exxon Mobil, allowing it to immediately close its $53 billion acquisition of Hess on July 18 and give the Big Oil major access to arguably the biggest oil discovery of the century offshore of sparsely populated Guyana.

Longtime shale boss and North Texas energy magnate Scott Sheffield said he’s no longer interested in joining Exxon Mobil Corp.’s board after the U.S.

Chevron closed its $55 billion acquisition of Hess on Friday after winning a landmark legal battle against larger rival Exxon Mobil to gain access to the biggest oil discovery in decades - the Stabroek Block off the coast of Guyana,

Chevron struck the deal to acquire Hess in October 2023. Exxon tried to block the move last year, saying it had a right of first refusal to buy Hess’ Guyana assets because of its joint operating agreement with Hess and the China National Offshore Oil Corp., or Cnooc, for the Stabroek Block.

Chevron will be allowed to proceed with its $53 billion purchase of Hess after winning arbitration with rival Exxon, The Wall Street Journal

Two major oil and gas executives are now allowed to join Chevron and Exxon's board of directors — but only one might be interested.

The FTC has reopened an order involving Chevron’s proposed acquisition of Hess, and another regarding Exxon Mobil’s proposed purchase of Pioneer Natural Resources after its initial complaints failed to plead any antitrust law violation.