01:53 PM EDT, 05/29/2025 (MT Newswires) -- (Updates with statement from Hess in fourth paragraph.)

Exxon Mobil ( XOM ) is optimistic about the outcome of the arbitration case relating to its contractual dispute in the Chevron's ( CVX ) planned acquisition of Hess (HES), an Exxon executive speaking at a Bernstein conference said Thursday, according to a FactSet transcript.

Neil Chapman, a senior vice president at Exxon, said he was confident that the arbitration panel would rule in favor of the company and determine that it had a right of first refusal over Hess's stake, the transcript showed.

There will be "no change for us" if Exxon loses, Chapman said, according to the transcript.

"We remain confident that the arbitration will confirm the Stabroek right of first refusal does not apply to the merger," a Hess spokesperson said in an emailed statement to MT Newswires. Hess owns a 30% stake in the Stabroek Block offshore Guyana, which Exxon operates.

Chevron ( CVX ) did not immediately reply to a request for comment from MT Newswires.

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