Chevron Corp Agreement to Acquire Noble Energy Inc Call Summary - Thomson StreetEvents

Chevron Corp Agreement to Acquire Noble Energy Inc Call Summary

Chevron Corp Agreement to Acquire Noble Energy Inc Call Summary - Thomson StreetEvents
Chevron Corp Agreement to Acquire Noble Energy Inc Call Summary
Published Jul 20, 2020
15 pages (8813 words) — Published Jul 20, 2020
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Abstract:

Edited Brief of CVX.N M&A conference call or presentation 20-Jul-20 12:00pm GMT

  
Brief Excerpt:

...A. Highlights: Co. has entered into a merger agreement with Noble Energy, an opportunity aligned with its disciplined, returns-focused strategy. 1. Attractive transaction that strengthens Co.'s performance through high-quality cash-producing assets that are complementary to CVX's global portfolio and capabilities, low-cost crude reserve and resource positions and achievable synergies that it expects to drive accretive financial metrics and enhance flexible capital program. a. 2. Key transaction terms: Each Noble Energy shareholder will receive 0.1191 CVX shares as total consideration. a. b. They will have continued investment in business through ownership of shares with 6% dividend yield, underpinned by balance sheet strength in time of uncertainty. c. Co. shareholders should realize incremental value that it expects high-quality assets and synergies to deliver over time. 3. Value of this deal is supported by complementary nature of Noble Energy's core assets in US, a liquids weighted portfolio...

  
Report Type:

Brief

Source:
Thomson StreetEvents
Company:
Chevron Corp
Ticker
CVX.N
Time
12:00pm GMT
Format:
PDF Adobe Acrobat
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The following is excerpted from the question-and-answer section of the transcript.

(Questions from industry analysts are provided in full, but answers are omitted - download the transcript to see the full question-and-answer session)

Question: Paul Cheng - Scotiabank Global Banking and Markets, Research Division - Analyst : A couple of questions that, I think for Mike. Noble actually has done a good job in developing their assets and it's actually quite well defined. So when you're looking at their asset today, do you see anything -- way that you're going to do differently? So that's the first question. The second question maybe is for Pierre. The $300 million on the synergy pretax, is that include any of the interest expense? If not, is there an opportunity of the refinancing and that will add to? And of that $300 million, how much is actually on the G&A side? without the prior written consent of Thomson Reuters. 'Thomson Reuters' and the Thomson Reuters logo are registered trademarks of Thomson Reuters and its affiliated companies. JULY 20, 2020 / 12:00PM, CVX.N - Chevron Corp Agreement to Acquire Noble Energy Inc Call

Question: Paul Cheng - Scotiabank Global Banking and Markets, Research Division - Analyst : Before I get to the synergy, can I ask that on Eastern Mediterranean? Noble has a pretty well-defined plan how that they want to ramp up the gas model over there. After Chevron takeover, is there any change in that pace? Or that you think that's a reasonable pace and maybe achievable pace.

Question: Paul Cheng - Scotiabank Global Banking and Markets, Research Division - Analyst : So over time, the synergies should be better, right? Because that's simple -- as the low-hanging fruit like interest expense and also combine in the Permian models is not really included?

Table Of Contents

Chevron Corp Q3 2020 Earnings Call Summary – 2020-10-30 – US$ 54.00 – Edited Brief of CVX.N earnings conference call or presentation 30-Oct-20 3:00pm GMT

Chevron Corp Q3 2020 Earnings Call Transcript – 2020-10-30 – US$ 54.00 – Edited Transcript of CVX.N earnings conference call or presentation 30-Oct-20 3:00pm GMT

Chevron Corp Q2 2020 Earnings Call Summary – 2020-07-31 – US$ 54.00 – Edited Brief of CVX.N earnings conference call or presentation 31-Jul-20 3:00pm GMT

Chevron Corp Q2 2020 Earnings Call Transcript – 2020-07-31 – US$ 54.00 – Edited Transcript of CVX.N earnings conference call or presentation 31-Jul-20 3:00pm GMT

Chevron Corp Agreement to Acquire Noble Energy Inc Call Transcript – 2020-07-20 – US$ 54.00 – Edited Transcript of CVX.N M&A conference call or presentation 20-Jul-20 12:00pm GMT

Chevron Corp at JPMorgan Energy, Power & Renewables Conference Transcript – 2020-06-16 – US$ 54.00 – Edited Transcript of CVX.N presentation 16-Jun-20 1:20pm GMT

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Cite this Report

  
MLA:
Thomson StreetEvents. "Chevron Corp Agreement to Acquire Noble Energy Inc Call Summary" Jul 20, 2020. Alacra Store. May 12, 2025. <http://www.alacrastore.com/thomson-streetevents-transcripts/Chevron-Corp-Agreement-to-Acquire-Noble-Energy-Inc-Call-B13281128>
  
APA:
Thomson StreetEvents. (2020). Chevron Corp Agreement to Acquire Noble Energy Inc Call Summary Jul 20, 2020. New York, NY: Alacra Store. Retrieved May 12, 2025 from <http://www.alacrastore.com/thomson-streetevents-transcripts/Chevron-Corp-Agreement-to-Acquire-Noble-Energy-Inc-Call-B13281128>
  
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