Chevron Acquires PDC Energy in $7.6 Billion Deal, Expanding US Shale Production

• Chevron is acquiring PDC Energy through an all-stock transaction valued at $7.6 billion.
• The deal will increase Chevron's oil and gas production in the Permian and DJ basins by 260,000 barrels per day.
• Chevron's spending and cash flow will each increase by about $1 billion annually.
• The acquisition makes Chevron the largest producer in the Denver-Julesburg basin, which will become one of Chevron's top assets.
• The deal further expands Chevron's presence in US shale beyond the Permian, with the US now making up 40% of Chevron's cash flow.

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