March 17 (Reuters) - Chevron ( CVX ) purchased about

4.99% of Hess Corp's ( HES ) common shares this year, the oil

giant said in a regulatory filing on Monday.

Chevron ( CVX ) said the stock purchase reflects its continuing

confidence in completing the pending acquisition of Hess.

In October 2023, Chevron ( CVX ) agreed to acquire Hess in an

all-stock deal valued at $53 billion, gaining a stake in

Guyana's oil-rich Stabroek block and expanding Chevron's ( CVX ) U.S.

shale footprint.

Though the proposed takeover has cleared the FTC's antitrust

review, one last hurdle remains - Exxon Mobil's ( XOM )

challenge to the deal. A three-judge arbitration panel is due to

consider the case later in May.

The company purchased 15,380,000 shares between January and

March at a discount to the exchange ratio set forth in the

Merger Agreement.