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1879年にアメリカ合衆国でPacific Coast Oilとして創業し、1900年にStandard Oilに買収され、その一部となった。

Chevron Corporation and Atlas Energy, Inc.announced today that Chevron would acquire Atlas Energy for cash of $3.2 billion and assumed pro forma net debt of approximately $1.1 billion. The acquisition will provide Chevron with an attractive natural gas resource position primarily located in southwestern Pennsylvania's Marcellus Shale. The acquisition is subject to certain Atlas Energy restructuring transactions, approval by Atlas Energy shareholders and regulatory clearance.

"This acquisition is the right opportunity for Chevron," said George L. Kirkland, Chevron Vice Chairman. "We are acquiring a company that has one of the premier acreage positions in the prolific Marcellus. The high quality resource, competitive cost structure in the Marcellus, strong growth potential of the asset base and its proximity to premier natural gas markets make this targeted acquisition a compelling investment for Chevron."

Kirkland also commented: "The Atlas Energy assets further advance Chevron's global shale gas position, complementing the company's recent entrance into shale gas opportunities in Poland, Romania and Canada."

Gary Luquette, Chevron North America Exploration and Production President said, "Atlas Energy brings to us a highly skilled team with strong operating experience and established land management capabilities. This knowledge, together with Chevron's technical expertise and global experience with large scale project developments, will create strong organizational synergies."

When the transaction closes, Chevron will gain Atlas Energy's estimated nine trillion cubic feet of natural gas resource, which includes approximately 850 billion cubic feet of proved natural gas reserves with approximately 80 million cubic feet of daily natural gas production. The assets in the Appalachian basin consist of 486,000 net acres of Marcellus Shale; 623,000 net acres of Utica Shale; and a 49 percent interest in Laurel Mountain Midstream, LLC, a joint venture which owns over 1,000 miles of intrastate and natural gas gathering lines servicing the Marcellus. Assets in Michigan include Antrim producing assets and 100,000 net acres of Collingwood/Utica Shale.

In April 2010, Atlas Energy entered a joint venture to develop its Marcellus assets with a wholly owned affiliate of Reliance Industries Limited. Under the agreement, Chevron will assume Atlas Energy's role as operator with 60 percent participation in the Marcellus joint venture, under the original agreement terms between Atlas Energy and Reliance. Reliance will continue to fund 75 percent of the operator's drilling costs, up to $1.4 billion.

Under the terms of the agreement, Atlas Energy shareholders will receive $38.25 in cash for each share of Atlas Energy stock and a pro-rata distribution of over 41 million units of Atlas Pipeline Holdings, L.P. (NYSE: AHD) following certain restructuring transactions to be completed immediately prior to the merger closing. Based on AHD's most recent closing price on November 8, these units will have a value of $5.09 per Atlas Energy share. In the restructuring transactions, Atlas Energy will:

Goldman, Sachs & Co. is acting as financial advisor to Chevron. Skadden Arps Slate Meagher Flom LLP is acting as legal advisor to Chevron. Jefferies & Company Inc. and Deutsche Bank Securities Inc. are acting as financial advisor to Atlas Energy. Wachtell Lipton Rosen Katz is acting as legal advisor to Atlas Energy.

Chevron will briefly address the acquisition at the upcoming Bank of America / Merrill Lynch 2010 Global Energy Conference on November 11th. The event will be webcast.

Atlas Energy, Inc. is one of the largest independent natural gas producers in the Appalachia and Michigan Basins and a leading developer in the Marcellus Shale in Pennsylvania.

2011/12/7 Chevron Phillips

Chevron Phillips Chemical Announces Completion of Construction at Saudi Polymers Company Manufacturing Facility

Chevron Phillips Chemical Company LLC (Chevron Phillips Chemical) congratulates Saudi Polymers Company (SPCo) and its joint venture partner, National Petrochemical Company, on completion of construction of the SPCo joint venture’s manufacturing facility located in Al-Jubail, Saudi Arabia.

Final commissioning and testing activities continue with a priority on ensuring safe and reliable operations. Commercial production is expected in the first quarter of 2012.

The integrated SPCo petrochemicals complex includes world-class operating units that are capable of producing Ethylene (1,165 kmta), Propylene (445 kmta), Polyethylene (1,100 kmta), Polypropylene (400 kmta), Polystyrene (200 kmta) and 1-Hexene (100 kmta). In addition to direct sales in the local Saudi market, the company will serve world markets outside the Kingdom of Saudi Arabia through its exclusive distributor, Gulf Polymers Distribution Company, utilizing Chevron Phillips Chemical’s global marketing network.

SPCo, which began construction in January 2008, has created approximately 950 jobs, with a high percentage being occupied by Saudi nationals.

SPCo is a limited liability company incorporated in the Kingdom of Saudi Arabia that is owned 65 percent by National Petrochemical Company (Petrochem), a joint-stock company incorporated in the Kingdom of Saudi Arabia and 35 percent by Arabian Chevron Phillips Petrochemical Company (ACP), a wholly-owned subsidiary of Chevron Phillips Chemical.

2011/12/14 Chevron Phillips

Chevron Phillips Chemical Advances Plans for USGC Petrochemicals Project

Chevron Phillips Chemical Company LP announced today that it has completed several key elements of the feasibility study announced earlier this year and plans to pursue a project to construct a world-scale ethane cracker and ethylene derivatives facilities in the U.S. Gulf Coast region.

Chevron Phillips Chemical’s existing Cedar Bayou facility in Baytown, Texas, would be the location of the new ethylene unit. The company has executed agreements with Shaw Energy and Chemicals to design a 1.5 million metric tons/year (3.3 billion pounds/year) ethane cracker utilizing proprietary Shaw technology.

Chevron Phillips Chemical’s proprietary technologies would be utilized for the construction of two new polyethylene facilities, each with an annual capacity of 500,000 metric tons (1.1 billion pounds). The new polyethylene units would be located either at the Cedar Bayou facility or a site nearby the Chevron Phillips Chemical Sweeny facility in Old Ocean, Texas. A final site selection decision for these units is anticipated during the first quarter of 2012.

Peter L. Cella, president and chief executive officer, discussed the study’s findings during a presentation today at the Gulf Petrochemicals and Chemicals Association (GPCA) conference in Dubai, United Arab Emirates. He also announced that the Environmental Protection Agency (EPA) greenhouse gas and Texas Commission on Environmental Quality (TCEQ) air permit applications for the new cracker would be filed this week. Cella indicated that the project is on track for final approvals in 2013.

“The owners and management of Chevron Phillips Chemical are pleased to have taken these critical steps, and believe that executing this project will benefit our customers, suppliers, local communities and existing and future employees,” said Cella. “It is our opinion that this project offers unique advantages, including co-location of the cracker with our Cedar Bayou facility and other ancillary assets such as our broad feedstock and ethylene pipeline and storage cavern networks, proximity to the expanding natural gas liquids hub in Mont Belvieu and utilization of proprietary technology to meet the growing demand of our customers.”

If approved, the USGC Petrochemicals Project is expected to create approximately 400 long-term direct jobs and 10,000 engineering and construction jobs. “We are pleased that the development of shale gas resources in the United States has set the stage for major petrochemical investment and job creation in our own backyard,” said Cella.

The estimated completion date for the USGC Petrochemicals Project is 2017.

Chevron Phillips Chemical Announces Study to Develop World-Scale Ethane Cracker on the U.S. Gulf Coast

Chevron Phillips Chemical Company LP today announced that it is advancing a feasibility study to construct a world-scale ethane cracker and ethylene derivatives at one of its existing facilities in the U.S. Gulf Coast region. The new facility would utilize the advantaged feed sources expected from development of shale gas reserves.
"We are finalizing our evaluation of potential sites and advancing discussions with EPC contractors," said Tim Taylor, COO for Chevron Phillips Chemical. “Our company is already a leading light cracker operator in the U.S. Gulf Coast region and an established supplier of olefins, polyolefins, and alpha olefins globally. Our technology portfolio, organizational capability, integration with our parent companies, and petrochemical infrastructure make us uniquely suited to execute this potential investment.”
"A project of this nature would afford Chevron Phillips Chemical an exciting opportunity to meet growing customer demand while at the same time supporting national, state, and local economies in a very meaningful way,” added Taylor. “We intend to expedite our development decisions to capitalize on the advantaged feedstock position that shale gas resources could bring to the chemical industry in the U.S.” The feasibility study is expected to be complete by the end of 2011.
　

Chevron Phillips Chemical To Build World’s Largest On-Purpose 1-Hexene Plant

Chevron Phillips Chemical Company LP will build the world’s largest on-purpose 1-hexene plant capable of producing up to 250,000 metric tons per year at its Cedar Bayou Chemical Complex in Baytown, Texas. Construction is targeted to commence in the first half of 2012, and the project is anticipated to start up during the first quarter of 2014.

The company has executed agreements with S & B Engineers and Constructors, Ltd., to engineer and build the plant utilizing Chevron Phillips Chemical’s proprietary, 2nd generation, on-purpose 1-hexene technology, which produces comonomer grade 1-hexene from ethylene with exceptional product purity.

“Approval of this 1-hexene project represents a significant milestone for our business and it supports our growth strategy as a leader in the production of normal alpha olefins,” said Mitch Eichelberger, general manager of normal alpha olefins and polyalphaolefins for Chevron Phillips Chemical. “Constructing this project is an important step to ensure we meet the growing demand of our global customer base.”

The new 1-hexene unit at the Cedar Bayou facility will enjoy significant advantages in infrastructure, feedstock availability, and operational expertise. 1-hexene is a critical component used in the manufacture of polyethylene, a plastic resin commonly converted into film, pipe, detergent bottles, and food and beverage containers.

The proprietary on-purpose 1-hexene technology is already successfully used at Qatar Chemical Company Ltd.’s (Q-Chem) facility in Mesaieed, Qatar, and will soon be utilized at the Saudi Polymers Company plant in Al Jubail, Saudi Arabia. Both of these facilities are joint ventures of wholly-owned subsidiaries of Chevron Phillips Chemical Company LLC.

Chevron Phillips Chemical Announces Expansion of Ethylene Production by 200 Million Pounds per Year at its Sweeny Complex in Old Ocean, Texas

Chevron Phillips Chemical Company LP announced it will expand its ethylene production by 200 million pounds by adding a tenth furnace to ethylene unit 33 at its Sweeny complex in Old Ocean, Texas.

The Company recently received consent to begin construction from the Texas Commission on Environmental Quality (TCEQ). The new furnace will achieve lower emissions and incorporate Best Available Control Technology (BACT). Construction is targeted to commence within the next quarter, with an anticipated startup in 2014.

“This furnace addition will provide additional ethylene supply to meet the growing global demand to better serve our customers and provide additional supply prior to starting up our proposed U.S. Gulf Coast Petrochemicals Project in 2017,” said Dave Smith, olefins & natural gas liquids vice president for Chevron Phillips Chemical. Chevron Phillips Chemical’s U.S. Gulf Coast Petrochemicals Project continues to be on track to build an ethane cracker at its Cedar Bayou plant in Baytown, Texas and two polyethylene units in Old Ocean.

While the additional furnace will not add to the nameplate capacity of the facility, the increased operating factor should result in net increase of 200 million pounds of ethylene availability to provide additional operational flexibility and reliability.

The Sweeny complex is one of the world’s largest single-site ethylene facilities and is capable of producing greater than 11 million pounds of ethylene per day, or roughly 4.1 billion pounds annually. “This project and the proposed addition of the adjacent polyethylene units emphasize the importance of Sweeny in the company’s portfolio,” said Wayne McDowell, Sweeny complex manager. “We are thrilled to produce quality products safely and reliably on an even larger scale.”

米国で大型エチレン製造プラントを受注
―当社初となる大型北米EPCプロジェクト―

　日揮は、米国Fluor Corporationと共同で、米国シェブロンフィリップス・ケミカル社が米国テキサス州で推進している大型エチレン製造プラント建設プロジェクトを受注いたしましたので、お知らせいたします。プロジェクトの詳細は、下記の通りです。

1. 契約先：シェブロンフィリップス・ケミカル社(Chevron Phillips Chemical Company LP)
出資比率：シェブロン社(Chevron Corporation) 50%
　　　　　フィリップス66社(Phillips 66) 50%
2. 建設場所：アメリカ合衆国テキサス州ベイタウン
3. 契約：エチレン製造プラント(150万トン/年)および付帯設備に係る設計、機材調達、建設工事(EPC) 役務
4. 契約形態：ランプサム転換型契約
5. 受注金額：非公表
6. プロジェクトの概要：

本プロジェクトは、米国シェブロンフィリップス・ケミカル社が計画する世界最大のエタンクラッカー装置を中核とするエチレン製造プラント新設プロジェクトです。プラント建設予定地は、同社がテキサス州ベイタウンに保有する既設プラント敷地内です。

当社は、米国大手エンジニアリング会社であるFluor Corporation（本社米国テキサス州）とジョイントベンチャーを形成(当社がリーダー)し、EPC役務を遂行します。当社は、主に、プロセスプラントの中核設備等を、フルア社は、ユーティリティやオフサイトを主に担当する予定です。エチレン製造プラントのプロセスライセンサーは、仏テクニップ社(旧ショー・ストーン＆ウェブスター社)です。

当社は2004年および2007年に、サウジアラビアにおいて、米国シェブロンフィリップス・ケミカル社が出資する合弁企業から、大型石油化学プラントに係わる2件の建設プロジェクトを受注・成功裏に遂行しており、今回の受注は、これらに続く、同社からの連続受注となります。

当社は、これまでに40件を超えるエチレンプラント建設プロジェクトを手掛けるなど、同分野において豊富な実績と経験を有しており、本プロジェクトの受注は、品質、コスト、スケジュール面において、当社グループが必要な知見と高い技術力を発揮できる企業として、顧客から総合的に評価された結果であると考えています。

現在北米地域では、シェールガスを原料とするガス化学やLNG、GTL等、数多くのプラント建設計画が具体化に向けて進展しています。北米における大型案件として当社初の実績となる本プロジェクトの受注を橋頭堡に、当社は、今後具体化する新たな計画の実現にも貢献していきたいと考えています。さらに、当社の北米地域におけるプレゼンスを確立するため、年度内にもエンジニアリング子会社を米国に立ち上げ、北米地域におけるさらなるプロジェクトの獲得を目指し、積極的な営業活動を展開していく所存です。

Chevron Announces Sale and Joint Venture Partnership for Duvernay Shale Assets in Canada with KUFPEC
Initial Results from the Liquids-Rich Formation Encouraging, Additional Appraisal Underway

Chevron Corporation today announced that its indirect, wholly-owned subsidiary, Chevron Canada Limited, has reached agreement to sell a 30 percent interest in its Duvernay shale play to Kuwait Foreign Petroleum Exploration Company's wholly-owned subsidiary, KUFPEC Canada Inc., for $1.5 billion. The total purchase price includes cash paid at closing as well as a carry of a portion of Chevron Canada's share of the joint venture's future capital costs. The Duvernay is located in west-central Alberta, and is believed to be among the most promising shale opportunities in North America.

The agreement creates a partnership for appraisal and development of liquids-rich shale resources in approximately 330,000 net acres in the Kaybob area of the Duvernay.

"This sale demonstrates our focus on strategically managing our portfolio to maximize the value of our global upstream businesses and is consistent with our partnership strategy," said Jay Johnson, senior vice president, Upstream, Chevron Corporation. "The transaction provides us an expanded relationship with a valued partner. It also recognizes the outstanding asset base we have assembled."

Following the closing of the transaction, Chevron Canada will hold a 70 percent interest in the joint venture Duvernay acreage and will remain the operator. The transaction is expected to close in November 2014.

"We remain encouraged by the early results of our exploration program and view the Kaybob Duvernay as an exciting growth opportunity for the company," said Jeff Shellebarger, president of Chevron North America Exploration and Production Company.

Chevron Canada has drilled 16 wells since beginning its exploration program, with initial well production rates of up to 7.5 million cubic feet of natural gas and 1,300 barrels of condensate per day. A pad drilling program recently commenced which is intended to further evaluate and optimize reservoir performance as well as reduce execution costs and cycle time.

-------

Kuwait Foreign Petroleum Exploration Company k.s.c. (KUFPEC) announced today that its wholly-owned subsidiary KUFPEC Canada Inc. has reached an agreement to create a strategic partnership with Chevron Canada Limited, a wholly-owned subsidiary of Chevron Corporation, to develop liquids-rich shale resources in the Duvernay basin in Canada by acquiring a 30% interest in Chevron’s entire position for US$1.5 billion, some of which will be paid over time.

The joint venture position consists of approximately 330,000 net acres of Chevron-operated leases in the emerging liquids-rich Kaybob area of the Duvernay play in Alberta. The extensive exploration program completed over the last 5 years has produced encouraging well results. These wells and a growing number of others in the Kaybob area with a high liquids content are comparable to the best in the US Eagle Ford shale play.

As of October 2014, 16 wells have been drilled, and 13 wells completed using multi-stage hydraulic fracturing. 10 wells are currently tied into the extensive local pipeline and processing infrastructure, with initial production rates up to 7.5 million cubic feet of natural gas per day and 1,300 barrels of condensate per day. Chevron has now commenced a full appraisal drilling program which will be conducted between 2014 and 2017. Thereafter, a rolling development is planned, which will see the position developed in phases. KUFPEC estimates that its share of production will contribute materially to its strategic goal of 200,000 boepd.

Commenting on the transaction, KUFPEC Chief Executive Officer Shaikh Nawaf Saud Nasir Al-Sabah stated: “KUFPEC is delivering on its strategic targets. This project will provide diversified, material, long-life reserves, production and upside in a low-risk business environment, with strong and stable cash flows for decades to come. We are securing the future of the company.”
This transaction, which will be KUFPEC’s first investment in North America, provides KUFPEC with the opportunity to develop shale technology with a world-class shale operator. Transfer of knowledge and skills to the Kuwaiti oil sector will be driven by Kuwaiti staff working with Chevron on the project in Canada.

The transaction is expected to close during November 2014.

KUFPEC, a wholly-owned subsidiary of Kuwait Petroleum Corporation, is an international petroleum company engaged in the exploration, development, and production of crude oil and natural gas outside the State of Kuwait. It is currently active in 14 countries with 60 projects in the international upstream sector. KUFPEC continues to work aggressively towards meeting its targets and achieving its strategy plans aiming to increase its production to 200,000 BOEPD with reserves of 650 MMBOE by year 2020 while delivering value to the Kuwaiti oil sector.

2017/9/19

Chevron Phillips Chemical Successfully Commissions New Marlex® Polyethylene Units at Old Ocean, Texas

First Phase of new $6 Billion U.S. Gulf Coast Petrochemical Project is now Operational and Poised to Serve the Robust Global Demand for Advanced Polyethylene Resins

Chevron Phillips Chemical Company LLC (Chevron Phillips Chemical) announced today it has successfully completed commissioning and begun start-up of its new polyethylene units at Old Ocean, Texas. Each unit will produce up to 500,000 metric tons annually to service the ever-increasing global demand for polyethylene. These units can produce a wide variety of polyethylene resin from metallocene LLDPE film to bi-modal film and pipe products, displaying the wide capability of Chevron Phillips Chemical's proprietary MarTech^® technology.

"In 2011, Chevron Phillips Chemical was the first to announce a leading-edge $6 billion petrochemicals project to take advantage of the newfound shale gas resources in the United States and I am thrilled we are completing the first phase of the project," said Mark Lashier, president and CEO. "I want to thank the thousands of employees and contractors who worked to build this incredible new asset that will allow us to continue to meet the growing demand of our loyal customer base worldwide."

Chevron Phillips Chemical's world-recognized Marlex^® polyethylene resin produced at Old Ocean will be delivered to customers in North America and to strategic transloading facilities across the United States for export to all regions of the world, supporting the dynamic growth seen around the globe by the company and its many MarTech^® licenses.

"Abundant shale gas resources are fueling an economic revival that extends across the nation and supports economic growth around the globe. Chevron Phillips Chemical is proud to be a leading contributor to the nation's growing workforce and strengthening the economy," said Lashier.

At peak construction, the U.S. Gulf Coast Petrochemicals Project employed approximately 10,000 contractors devoted to completing not just the polyethylene units at Old Ocean, but also a new world scale ethane cracker being built at the company's existing facilities in Baytown, Texas. The Baytown facility recently experienced flooding as a result of Hurricane Harvey. Chevron Phillips Chemical currently expects to complete construction and begin commissioning the ethane cracker by first quarter 2018 with a transition to full production during second quarter 2018.

2011/12/29 Chevron Phillips Chemical、シェールガス利用で大規模石化計画　

　

April 12, 2019 　　　　　　　　　　　　　　　　　　

Chevron Announces Agreement to Acquire Anadarko

• Strategic fit that enhances Chevron’s advantaged portfolio
• Provides $2 billion in anticipated annual operating cost and capital synergies
• Accretive to free cash flow and earnings one year after close
• Share repurchase annual target increases by 25 percent to $5 billion

Chevron Corporation announced today that it has entered into a definitive agreement with Anadarko Petroleum Corporation to acquire all of the outstanding shares of Anadarko in a stock and cash transaction valued at $33 billion, or $65 per share. Based on Chevron’s closing price on April 11th, 2019 and under the terms of the agreement, Anadarko shareholders will receive 0.3869 shares of Chevron and $16.25 in cash for each Anadarko share. The total enterprise value of the transaction is $50 billion. 債務込み

モザンビークLNG事業　　　

2019年02月14日
　

米国石油大手アナダルコは2月5日、モザンビーク北部で開発を進める液化天然ガス（LNG）事業に関する、2つの売買契約を締結したと発表した。
1つ目の売買契約は、2018年6月の基本合意に基づく東京ガスと英国ガス大手セントリカの共同調達で、LNG生産開始から2040年初頭まで年間260万トンのLNGを供給するもの。
2つ目の売買契約は、ロイヤル・ダッチ・シェルの子会社との間で締結された。13年間にわたり、年間200万トンのLNGが売買されることになる。
今回の発表に先立ち、アナダルコは2月1日、中国海洋石油集団（CNOOC）と、13年間にわたり年間150万トンのLNGを供給する契約を締結していた。
2018年2月にはフランス電力会社EDFと年間120万トンのLNG売買契約を締結しているほか、東北電力とも2018年10月に年間28万トンの売買契約を締結している。

アナダルコのミッチ・イングラン副社長は「モザンビークは今後数十年間、世界の重要なLNGサプライヤーとなるだろう」と述べた上で、本売買契約により、LNG長期契約は年間750万トンに積み上がり、残りのLNG売買契約（年間450万トン）も近い将来に見込まれているとした。

アナダルコは、モザンビーク北部のエリア1ガス田で進められているLNG事業のオペレーター（権益26.5％取得）で、三井物産がエリア1の20％の権益を取得している。アナダルコが進めている天然ガス事業は、エリア1のゴルフィーニョ・アツン・ガス田から年間1,288万トンのLNGを生産するもので、モザンビーク国内市場向けにも天然ガスが供給される予定だ。

　当初現在

Anadarko （オペレーター） 76.5% 36.5%

Mitsui E&P ー 20%

モザンビーク国営石油会社 15% 15%

Bharat Petroleum（インド） ー 10%

Videocon （インド） ー 10%

Artumas Group（現 Wentworth Resources） 8.5% ー

PTT Exploration & Production （タイ） ー 8.5%

2013/1/10　モザンビークの天然ガス開発

　

The acquisition of Anadarko will significantly enhance Chevron’s already advantaged Upstream portfolio and further strengthen its leading positions in large, attractive shale, deepwater and natural gas resource basins. Furthermore, Western Midstream Partners, LP is a successful midstream company whose assets are well aligned with the combined companies’ upstream positions, which should further enhance their economics and execution capabilities.

Western Midstream Partners, LP is a growth-oriented Delaware master limited partnership formed by Anadarko Petroleum Corporation to acquire, own, develop and operate midstream energy assets. With midstream assets located in the Rocky Mountains, North-central Pennsylvania and Texas, WES is engaged in the business of gathering, compressing, treating, processing, and transporting natural gas; gathering, stabilizing and transporting condensate, natural gas liquids and crude oil; and gathering and disposing of produced water for Anadarko, as well as for other customers.

“This transaction builds strength on strength for Chevron,” said Chevron’s Chairman and CEO Michael Wirth. “The combination of Anadarko’s premier, high-quality assets with our advantaged portfolio strengthens our leading position in the Permian, builds on our deepwater Gulf of Mexico capabilities and will grow our LNG business. It creates attractive growth opportunities in areas that play to Chevron’s operational strengths and underscores our commitment to short-cycle, higher-return investments.” “This transaction will unlock significant value for shareholders, generating anticipated annual run-rate synergies of approximately $2 billion and will be accretive to free cash flow and earnings one year after close,” Wirth concluded. “The strategic combination of Chevron and Anadarko will form a stronger and better company with world-class assets, people and opportunities,” said Anadarko Chairman and CEO Al Walker. “I have tremendous respect for Mike and his leadership team and believe Chevron’s strategy, scale and operational capabilities will further accelerate the value of Anadarko’s assets.”

Transaction Benefits

• Strong Strategic Fit: Anadarko’s assets will enhance Chevron’s portfolio across a diverse set of asset classes, including:

　o Shale & Tight – The combination of the two companies will create a 75-mile-wide corridor across the most attractive acreage in the Delaware basin, extending Chevron’s leading position as a producer in the Permian.

　o Deepwater – The combination will enhance Chevron's existing high-margin position in the deepwater Gulf of Mexico (GOM), where it is already a leading producer, and extend its deepwater infrastructure network.

　o LNG – Chevron will gain another world-class resource base in Mozambique to support growing LNG demand. Area 1 is a very cost-competitive and well-prepared greenfield project close to major markets.

• Significant Operating and Capital Synergies: The transaction is expected to achieve run-rate cost synergies of $1 billion before tax and capital spending reductions of $1 billion within a year of closing.

• Accretive to Free Cash Flow and EPS: Chevron expects the transaction to be accretive to free cash flow and earnings per share one year after closing, at $60 Brent.

• Opportunity to High-Grade Portfolio: Chevron plans to divest $15 to $20 billion of assets between 2020 and 2022. The proceeds will be used to further reduce debt and return additional cash to shareholders.

• Increased Shareholder Returns: As a result of higher expected free cash flow, Chevron plans to increase its share repurchase rate from $4 billion to $5 billion per year upon closing the transaction.

Transaction Details

The acquisition consideration is structured as 75 percent stock and 25 percent cash, providing an overall value of $65 per share based on the closing price of Chevron stock on April 11th, 2019. In aggregate, upon closing of the transaction, Chevron will issue approximately 200 million shares of stock and pay approximately $8 billion in cash. Chevron will also assume estimated net debt of $15 billion. Total enterprise value of $50 billion includes the assumption of net debt and book value of non-controlling interest.

The transaction has been approved by the Boards of Directors of both companies and is expected to close in the second half of the year. The acquisition is subject to Anadarko shareholder approval. It is also subject to regulatory approvals and other customary closing conditions.

Upon closing, the Company will continue be led by Michael Wirth as Chairman and CEO. Chevron will remain headquartered in San Ramon, California.

分割会社	その後	現在
Standard Oil of Ohio（ソハイオ）		BP
Standard Oil of Indiana（スタノリンド）	アモコ
Atlantic & Richfield	Atlantic Richfield（ARCO) →Atlanticはサノコが買収
Standard Oil of New York（ソコニー）	ヴァキュームと合併 →モービル	エクソンモービル
Standard Oil of New Jersey(エッソ)	エクソン	エクソンモービル
Standard Oil of California（ソーカル）	Gulf Oilと合併 →シェブロンテキサコを買収 →シェブロンテキサコ	シェブロン
Standard Oil of Kentucky	ソーカルが買収	シェブロン
Continental Oil (Conoco)	Phillipsと統合	コノコフィリップス

	当初	現在
Anadarko （オペレーター）	76.5%	36.5%
Mitsui E&P	ー	20%
モザンビーク国営石油会社	15%	15%
Bharat Petroleum（インド）	ー	10%
Videocon （インド）	ー	10%
Artumas Group（現 Wentworth Resources）	8.5%	ー
PTT Exploration & Production （タイ）	ー	8.5%