Shareholders of Chevron Corp. and Hess Corp. are largely enthusiastic about the pending $53 billion merger, according to Chevron CEO Mike Wirth.
He hosted a conference call Friday to discuss the San Ramon, CA-based supermajor’s third quarter earnings.
Chevron and Hess recently announced the blockbuster deal, which would give Chevron a foothold in the multibillion-barrel Stabroek block offshore Guyana, as well as the Bakken Shale in the Lower 48.
“I would say in general, people see the long-term value proposition very clearly here,” Wirth told analysts, “and I think they see it as a combined company that is stronger and one that is set up to be stronger for longer…”
Shareholders of the combined company would have “a much more diversified set of assets...