Chevron Corp has announced its acquisition of PDC Energy Inc in an all-stock transaction for $7.6 billion, including debt. The deal will add new drilling inventory to Chevron’s U.S. oil and gas reserves, which have been under pressure to show expansion after 2027 as its main shale holdings in the Permian Basin near their peak output. The PDC Energy deal is the second in three years that bulks up Chevron’s shale operations in Colorado and Wyoming. Chevron is already one of the larger producers in the Denver-Julesburg Basin after its acquisition of Noble Energy in 2020 for $13 billion. With the acquisition of PDC, Chevron will add 10% to its proved reserves at a projected cost of less than $7 per barrel.
Ironwood Pharmaceuticals Inc has also announced its acquisition of Switzerland-based drug developer VectivBio Holding AG for $1.15 billion to boost its portfolio of experimental digestive disorder drugs. The former chief executive of the publisher of Britain’s Daily Mirror said phone-hacking carried out by journalists she employed was concealed from her, as she gave evidence on Monday in a lawsuit brought by Prince Harry against the newspaper. Ukraine’s military intelligence service blamed an armed operation in Russia’s Belgorod region on Monday on « opposition-minded Russian citizens » from two paramilitary groups.
Chevron’s acquisition of PDC Energy Inc is a strategic move to expand its U.S. oil and gas reserves. The deal will add new drilling inventory to Chevron’s portfolio, which has been under pressure to show expansion after 2027 as its main shale holdings in the Permian Basin near their peak output. With the acquisition of PDC, Chevron will add 10% to its proved reserves at a projected cost of less than $7 per barrel. This acquisition is the second in three years that bulks up Chevron’s shale operations in Colorado and Wyoming, making it one of the larger producers in the Denver-Julesburg Basin after its acquisition of Noble Energy in 2020 for $13 billion.
Ironwood Pharmaceuticals Inc’s acquisition of VectivBio Holding AG is a strategic move to boost its portfolio of experimental digestive disorder drugs. The $1.15 billion acquisition will help Ironwood Pharmaceuticals Inc expand its product offerings and strengthen its position in the market. The former chief executive of the publisher of Britain’s Daily Mirror gave evidence on Monday in a lawsuit brought by Prince Harry against the newspaper. Ukraine’s military intelligence service blamed an armed operation in Russia’s Belgorod region on Monday on « opposition-minded Russian citizens » from two paramilitary groups.
Keywords: Chevron, PDC Energy Inc, acquisition, U.S. oil and gas reserves, shale holdings, Permian Basin, Colorado, Wyoming, Noble Energy, Ironwood Pharmaceuticals Inc, VectivBio Holding AG, digestive disorder drugs, Prince Harry, Daily Mirror, Ukraine, military intelligence service, Russia, paramilitary groups.