Exxon-Chevron Battle in Guyana Roils Hedge Funds
Traders are finding out the hard way that profiting off a big oil discovery can be messy.
Exxon Mobil Corp. offices in Georgetown, Guyana. The company disputes Chevron Corp.’s effort to acquire part of the Stabroek oil field.
Photographer: Jose A. Alvardo Jr./BloombergWelcome to Energy Daily, our guide to the energy and commodities markets powering the global economy. Today, reporters Kevin Crowley and Yiqin Shen unpack how a disputed Guyana oil deal may spell trouble for some hedge funds. To learn what the wind industry is doing to make turbines recyclable, read this. To get this newsletter sent to your inbox, sign up here.
One of the biggest oil deals of the past year is throwing up some nasty surprises for a group of hedge funds.