Chevron closes purchase of PDC Energy, bolstering DJ Basin assets

Monday, 7 August 2023, 20:35:56
Chevron (CVX) said it has officially closed its acquisition of PDC Energy (PDCE) in a $6.3B deal, following approval by PDC shareholders.
— Seeking Alpha

Chevron Closes PDC Deal On Shareholders” Nod; Oil Touches 10-Month High

Monday, 7 August 2023, 15:59:19
Chevron announced Monday PDC Energy shareholders approved its purchase of the company, bolstering its U.S. oil and gas operations.
— Investor”s Business Daily

PAG, ERIE finds place in S&P MidCap 400

Wednesday, 2 August 2023, 11:50:49
Penske Automotive (PAG) to replace Univar Solutions (UNVR) in the S&P MidCap 400, Erie Indemnity (ERIE) will replace PDC Energy (PDCE) in the S&P MidCap 400
— Seeking Alpha

Chevron Indicates There Might Be A Reason To Invest (Rating Upgrade)

Monday, 24 July 2023, 21:51:14
Chevron Corporation recently released Q2 earnings and made the well-timed acquisition of PDC Energy. Click here to read our thoughts on CVX stock prospects now.
— Seeking Alpha

Chevron’s second-quarter profit beat expectations for record shale production

Monday, 24 July 2023, 03:09:22
chevron corp. On Sunday, it issued a better-than-expected second-quarter performance update ahead of the oil major’s earnings announcement this week. Adjusted earnings of $3.08 per share beat consensus of $2.97 per share, according to FactSet company tracking. . This is down 47% from the second quarter of last year and down from earnings of $3.55 per share in the first quarter of 2023. The biggest reason for Chevron’s lower earnings is that oil prices are down significantly from this time last year, when they spiked because of Russia’s invasion of Ukraine. CEO Mike Wirth said in an interview with Barron . “We are at lower prices than they were a year ago, but they are higher than they were two, three years ago. We have to be prepared for the highs and lows. “We have a company that is built to last through the cycles,” he added. “in [oil prices] Less than $50, we cover all of our earnings and all of our capital expenditure.” Announcement – scroll to continue Chevron’s independent directors gave Wirth a vote of confidence, waiving the company’s mandatory retirement age of 65.
— Lanka Times