Chevron Corporation, a major player in the oil and gas industry, has announced its pending acquisition of Hess Corporation. The announcement was made by Chevron's CEO, Mike Wirth, during a panel at the CERAweek 2024 conference on March 19, 2024, and subsequently posted on March 22, 2024. Wirth emphasized the transaction's benefits for shareholders of both companies, Guyana's country, U.S. energy security, and the industry at large. Despite an unexpected turn in negotiations, where Stabroek block partners abruptly ended discussions and filed for arbitration, Chevron remains confident in its understanding of the joint operating agreement and looks forward to the arbitration outcome. The acquisition is subject to regulatory approvals and the resolution of ongoing arbitration proceedings. Chevron and Hess have highlighted the forward-looking nature of the statements regarding the acquisition, indicating potential risks and uncertainties that could affect the transaction's outcome. Investors and stockholders are advised to read the proxy statement/prospectus and other documents filed with the SEC carefully for detailed information about the potential transaction.

Chevron Corporation, a major player in the oil and gas industry, has announced its pending acquisition of Hess Corporation. The announcement was made by Chevron's CEO, Mike Wirth, during a panel at the CERAweek 2024 conference on March 19, 2024, and subsequently posted on March 22, 2024. Wirth emphasized the transaction's benefits for shareholders of both companies, Guyana's country, U.S. energy security, and the industry at large. Despite an unexpected turn in negotiations, where Stabroek block partners abruptly ended discussions and filed for arbitration, Chevron remains confident in its understanding of the joint operating agreement and looks forward to the arbitration outcome. The acquisition is subject to regulatory approvals and the resolution of ongoing arbitration proceedings. Chevron and Hess have highlighted the forward-looking nature of the statements regarding the acquisition, indicating potential risks and uncertainties that could affect the transaction's outcome. Investors and stockholders are advised to read the proxy statement/prospectus and other documents filed with the SEC carefully for detailed information about the potential transaction.