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Chevron expects Hess acquisition to outperform targets, CEO tells employees
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Chevron expects Hess acquisition to outperform targets, CEO tells employees
Oct 8, 2025 12:23 PM

HOUSTON, Oct 8 (Reuters) - Chevron ( CVX ) CEO Mike

Wirth told employees on Wednesday that he believes the company

will outperform publicly-stated financial targets given to

investors following the acquisition of smaller oil producer

Hess.

Upon closing the $55-billion purchase of Hess in July,

Chevron ( CVX ) said it expected $1 billion in synergies and raised free

cash flow guidance for 2026 from $10 billion to $12.5 billion.

"I fully expect the (Hess) deal will meet and exceed what

we've committed externally," Wirth said during an internal town

hall meeting, audio of which was heard by Reuters.

"Our talented workforce is an essential part of the ongoing

success of our company, and we engage regularly to align on

strategic priorities and our shared purpose to safely provide

affordable, reliable, ever-cleaner energy that enables human

progress," a Chevron ( CVX ) spokesperson said.

(Reporting by Sheila Dang in Houston;)

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