Chevron Corporation is one of the world`s leading integrated energy companies. Through its globally active subsidiaries, the company is active in almost every facet of the energy industry. Chevron explores, produces and transports crude oil and natural gas; Refines, markets and distributes transportation fuels and lubricants; produces and distributes petrochemicals and additives; produces electricity; and develops and implements technologies that increase business value in all aspects of the company`s operations. Chevron is based in San Ramon, California. For more information about Chevron, see www.chevron.com. Anadarko Petroleum Corporation`s mission is to provide shareholders with competitive and sustainable returns by exploring, acquiring and developing oil and gas resources that are critical to the health and well-being of the world. At the end of 2018, the Company had proven reserves of 1.47 billion barrels, making it one of the largest independent exploration and production companies in the world. For more information about Anadarko and APC Flash stream updates, see www.anadarko.com. April 15, 2019 [Oilfield Technology] – Chevron Corporation announced today that it has entered into a definitive agreement with Anadarko Petroleum Corporation to acquire all of the outstanding shares of Anadarko in a share and cash transaction valued at $33 billion, or $65 per share. Based on Chevron`s closing price on April 11, 2019 and under the terms of the agreement, Anadarko shareholders will receive 0.3869 Chevron shares and $16.25 in cash for each Anadarko share. The total enterprise value of the transaction is $50 billion.
This announcement does not constitute an offer to sell or the solicitation of an offer to buy securities or a solicitation of vote or approval, and no sale of securities takes place in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such jurisdiction. An offer of securities may only be made by means of a prospectus that meets the requirements of section 10 of the Securities Act, 1933, as amended. As part of the potential transaction, Chevron plans to file a registration statement on Form S-4 with the Securities and Exchange Commission (”SEC”) containing a preliminary prospectus of Chevron, which is also a preliminary proxy circular of Anadarko. Once the registration statement is declared effective, Anadarko will send a final proxy circular/prospectus to Anadarko`s shareholders. This announcement is not a substitute for the proxy statement/prospectus or registration statement or any other document that Chevron or Anadarko may file with the SEC and send to Anadarko shareholders in connection with the potential transaction. INVESTORS AND SECURITYHOLDERS OF CHEVRON AND ANADARKO ARE ADVISED TO CAREFULLY AND FULLY READ THE PROXY STATEMENT/PROSPECTUS AND OTHER DOCUMENTS FILED WITH THE SEC AS THEY BECOME AVAILABLE, AS THEY WILL CONTAIN IMPORTANT INFORMATION. Investors and securityholders may obtain free copies of the proxy statement/prospectus (if any) and other documents filed with the SEC by chevron or Anadarko from the SEC`s website under www.sec.gov. Copies of Chevron`s filings with the SEC will be available free of charge on Chevron`s website at www.chevron.com/investors, and copies of Anadarko`s filings with the SEC will be available free of charge on Anadarko`s website at investors.anadarko.com. A webcast of the discussion will be available in listen-only mode for individual investors, media and other interested parties on Chevron`s website at www.chevron.com in the ”Investors” section or by phone at (866) 219-7734 and quoting the conference ID 2864506. Additional materials will be available under the ”Events and Presentations” section of the ”Investors” section of Chevron`s website. SAN RAMON, CALIFORNIA, 12. April 2019 – Chevron Corporation (NYSE: CVX) announced today that it has entered into a definitive agreement with Anadarko Petroleum Corporation (NYSE: APC) to acquire all of the outstanding shares of Anadarko in a stock and cash transaction valued at $33 billion, or $65 per share.
Based on Chevron`s closing price on April 11, 2019 and under the terms of the agreement, Anadarko shareholders will receive 0.3869 Chevron shares and $16.25 in cash for each Anadarko share. The total enterprise value of the transaction is $50 billion. This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements generally include statements regarding the potential transaction between Chevron Corporation (”Chevron”) and Anadarko Petroleum Corporation (”Anadarko”), including statements regarding the expected timing of the closing of the potential transaction, the ability to complete the potential transaction, the expected benefits of the potential transaction (including expected annual operating costs and capital synergies, and the expected increase in free cash flow). Increase Chevron`s annual share repurchase target, projected financial information, future opportunities and any other statements regarding Chevron and Anadarko`s expectations, beliefs, plans, plans, objectives, results of operations, financial condition and cash flows or future events or performance. These statements are often, but not always, made through the use of words or phrases such as ”anticipates”, ”expects”, ”intends”, ”plans”, ”objectives”, ”forecasts”, ”projects”, ”believes”, ”seeks”, ”schedules”, ”estimates”, ”positions”, ”continues”, ”may”, ”could”, ”should”, ”will”, ”budgets”, ”outlook”, ”trends”, ”leadership”, ”focus”, ”on time”, ”on track”, ”is planned”, ”objectives”, ”objectives”, ”objectives”, ”strategies”, ”opportunities”, ”balanced” and similar expressions. All of these forward-looking statements are based on the current expectations of Chevron and Anadarko management and therefore include estimates and assumptions that are subject to risks, uncertainties and other factors that could cause actual results to differ materially from those expressed in the statements. .