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Chevron Completes Acquisition Of Pdc Energy

Aug 07, 2023•over 2 years ago

Acquiring Company

Chevron

Acquired Company

PDC Energy

HoustonEnergyNatural ResourcesEnergy

Description

Chevron Corporation (NYSE: CVX) announced today that its acquisition of PDC Energy, Inc. (NASDAQ: PDCE) has been completed following approval by PDC Energy shareholders.

Company Information

Company

Chevron

Location

Houston, Texas, United States

About

Chevron is one of the world’s leading integrated energy companies. We believe affordable, reliable and ever-cleaner energy is essential to achieving a more prosperous and sustainable world. Chevron produces crude oil and natural gas; manufactures transportation fuels, lubricants, petrochemicals and additives; and develops technologies that enhance our business and the industry. We are focused on lowering the carbon intensity in our operations and seeking to grow lower carbon businesses along with our traditional business lines. More information about Chevron is available at www.chevron.com.

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M&A Insights

Based on deal data
Integration timeline
70% of M&A integrations take 12-24 months to complete
Tech stack consolidation
83% of merged companies consolidate technology vendors within first year
Post-acquisition investment
Companies increase IT spending by 23% on average after acquisitions
Success factor
M&A deals with strong technology integration plans are 2.5x more likely to succeed