I don't want to say anything, it's not recommended, but according to WB I invested in $CVX+0.5% stock and unlike him I continue to hold it and I'm really happy about it as an extremely favorable deal for the company was announced today (the investment decision was made after my analysis, don't worry). We'll write more below.
Chevron Corp announced it will acquire PDC Energy $PDCE-0.3% in an all-stock transaction for $7.6 billion, including debt.
The oil giant said the deal with PDC will bring strong free cash flow, low-fracture production and development opportunities in Chevron's "neighborhood" in the Denver-Julesburg Basin, as well as additional acreage to the company's position in the Permian Basin.
The deal is expected to increase Chevron's proved reserves by 10% at a purchase price below $7 per barrel of oil equivalent.
I don't know what else to say, great deal!