Consolidation in the oil and gas industry continues. Chevron buys Noble Energy.
The addition of Noble will boost Chevron’s U.S. shale oil holdings, making it the No. 2 producer behind EOG Resources, according to data from Rystad Energy. It also adds nearly 1 billion cubic feet of natural gas reserves. Noble’s Leviathan in Israeli waters, one of the world’s biggest offshore gas discoveries of the last decade, began pumping gas from the field late last year.
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