Chevron’s Deal To Buy Noble Energy Opens To Rave Reviews

Chevron’s Deal To Buy Noble Energy Opens To Rave Reviews

The Chevron Corp. logo in displayed at a gas station in Berkeley, California, U.S. Photographer: ... [+] David Paul Morris/Bloomberg





BLOOMBERG NEWS





Positive reviews of Chevron



CVX

's proposed stock swap to absorb Noble Energy



NBL

for $13 billion, including assumed debt, rolled in on Monday, providing a stark contrast to last year's $55 billion acquisition of Anadarko Petroleum



APC

by Oxy. Analysts across the board lauded the deal in terms of cost, debt absorption, asset synergies and timeliness.



Below is a sampling of commentary from various firms.



Enverus Senior M&A Analyst Andrew Dittmar - "Noble makes perfect sense for Chevron to pursue as an acquisition target given complimentary positions in the Permian plus Noble's international gas development in the Eastern Mediterranean. Given the natural fit of the assets, Noble has been viewed as likely being on Chevron's radar from the moment Chevron chose to walk away from any bidding contest with Occidental over Anadarko.



"Along with the Permian, the best fit and biggest draw in Noble's portfolio for Chevron may be the Eastern Mediterranean gas projects at Leviathan and Tamar. These are premier, long-life