Chevron on Friday announced plans to acquire oil and gas exploration and production company Anadarko Petroleum in a cash and stock deal valued at $33 billion. The transaction will give the second biggest U.S. energy company a boost in shale oil production as well as natural gas.
Shares of Anadarko rose nearly 30% in the premarket trading to $60.95 a share following the news. Chevron shares were down 4.2% from Thursday’s close of $125.99 a share.
