Chevron Has a Lot of Growth Coming Down the Pipeline, Despite Delays for Its Needle-Moving Hess Acquisition
(NYSE: CVX) made a bold move last year by agreeing to acquire rival Hess (NYSE: HES) in a nearly $60 billion deal. That purchase will really move the needle for the oil giant. Management expects the transaction will help it more than double its free cash flow by 2027 if oil prices average $70 a barrel. Meanwhile, it will extend the company's production growth profile into the 2030s.
Unfortunately, the deal has hit a speed bump. However, while Chevron believes it will eventually close the transaction, it could grow just fine without Hess.
Chevron CEO Mike Wirth made it a point to highlight his company's organic growth drivers during the second-quarter conference call.
Source Fool.com
Chevron Corp. Stock
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