Deals
Breakup Fee in Hand, Chevron Could Buy One of These Companies Instead
- Pioneer, Concho among top names floated as takeout targets
- Chevron seen bulking up in Permian after letting Anadarko go
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Chevron Corp. is taking its $1 billion breakup fee and walking away from the biggest deal in the oil industry in at least four years. But the supermajor may not be done yet.
In an interview Thursday, Chief Executive Officer Mike Wirth said the company is comfortable with its current position in the Permian Basin and will only seek deals that will add value to shareholders throughout the oil-price cycle.
