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.

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

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,

Chevron’s imminent entry into Guyana’s rich offshore oilfields solves one of the biggest problems dogging the U.S. major: where its growth will come from beyond the next few years.