02:00 PM EDT, 05/06/2024 (MT Newswires) -- Exxon Mobil ( XOM ) sees dispute with Chevron ( CVX ) over its acquisition of Hess' (HES) 30% stake in a Guyana oilfield extending into 2025, CNBC reported Monday, citing an interview with Exxon Chief Executive Darren Woods.

Chevron ( CVX ) agreed to acquire Hess in October in an all-stock deal valued at $53 billion. Hess's stake in the Stabroek block in Guyana is expected to be part of the deal. Exxon disputes that.

Exxon is the operator of the field and has a leading 45% stake in the block. The company seeks the right-of-first-refusal over any sale of Hess' interest in the asset under a joint operating agreement governing the consortium developing Guyana's oil resources, according to CNBC.

Hinting at the arbitration process, Woods said that before going into the discovery phase, a panel of arbitrators still has to be chosen, according to CNBC.

Chevron ( CVX ), Exxon Mobil ( XOM ) and Hess didn't immediately respond to requests for comment by MT Newswires.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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