CVX - 1 Massively Overlooked Benefit to Chevron's Acquisition of PDC
2023-06-14 17:06:00 ET
Chevron (NYSE: CVX) is an internationally diversified integrated energy giant with a scale and reach matched by only a handful of competitors. It has the ability to acquire entire companies at a fairly large scale. It recently agreed to buy PDC Energy (NASDAQ: PDCE) , an onshore U.S. energy producer. There's a lot to understand about this deal.
Energy is the lifeblood of the modern world, and oil and natural gas are vital sources of power. Although there is a shift taking place toward cleaner alternatives, like solar and wind power , demand for oil and natural gas is likely to keep growing for many years. By some estimates growth will continue through 2050, with more conservative estimates suggesting that demand flatlines over that span. Either way, growing global population will require more energy, and that will more than likely mean strong demand for the energy that companies like Chevron produce.
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1 Massively Overlooked Benefit to Chevron's Acquisition of PDC