Chevron is boosting its natural gas and shale operations by acquiring Anadarko Petroleum for 33-billion dollars. The companies announced the cash-and-stock deal this morning. Chevron said in a statement the deal solidifies the company's position in shale-producing parts of the South.
It also expands Chevron's drilling operations in the Gulf of Mexico and provides access to a promising natural gas field in Mozambique. San Francisco Bay Area-based Chevron expects the deal to close in the second half of this year.