Deals
Chevron CEO Is Open to More Deals After $6.3 Billion PDC Tie-Up
- Wirth says in interview that he’ll remain disciplined on price
- Oil producers are flush with cash, looking to consolidate
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Chevron Corp. Chief Executive Officer Mike Wirth says he’s open to more deals after agreeing to buy PDC Energy Inc. for $6.3 billion, but will stay disciplined on price.
Oil and gas producers are flush with cash after raking in record profits over the past year, leaving the US energy patch ripe for a takeover boom. Companies are looking to bulk up and consolidate, acquiring rivals to secure drilling sites for the future.