Chevron completed its $53 billion purchase of Hess after winning an arbitration case brought by rival Exxon Mobil and the China National Offshore Oil Corporation.

Chevron Corp. is on the cusp of reaching a production plateau in the largest US oil field, allowing it to reap billions of dollars of additional cash flow in the next few years.

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.

Forty-odd years after leaving the employ of the refinery, the St. Lucian-born Edward was diagnosed with multiple myeloma, a cancer of the blood's plasma cells. According to the lawsuit, Mr. Edward was diagnosed in July 2023, and died at the end of September 2024.

The stock's fall snapped a two-day winning streak.

The acquisition of Hess—and its stake in a generational oil find—helps clear up lingering doubts about Chevron’s growth prospects.

Chevron's arbitration victory over Exxon and closing of its $53B acquisition of Hess helps solve one of Chevron's biggest problems - where its growth will come from beyond the next few years