On the Record · Chevron
Chevron acquisitions, on the record
The businesses Chevron bought and sold, as its annual reports describe them, with the cash it reported paying for acquisitions each year and every deal filing since 2016.
Deals its annual reports describe
| Business | Deal | When | Value |
|---|---|---|---|
Renewable Energy Group, Inc. (REG)Word for word“In June 2022, Chevron completed the acquisition of the Renewable Energy Group, Inc. (REG), which has 11 biofuel refineries located in the U.S. and Germany, 10 biofuel refineries producing biodiesel and one producing renewable diesel.” 10-K for 2022 | acquisition | June 2022 | — |
NEXBASE brand and related sales and marketing business from Neste OyjWord for word“In April 2022, Chevron completed the purchase of the NEXBASE brand, associated qualifications and approvals, and related sales and marketing busin ess from Neste Oyj .” 10-K for 2022 | acquisition | April 2022 | — |
Beyond6, LLCWord for word“In December 2022, Chevron acquired full ownership of Beyond6, LLC and its nationwide network of 55 compressed natural gas (CNG) stations to grow its renewable natural gas value chain.” 10-K for 2022 | acquisition | December 2022 | — |
Eagle Ford Shale assets in TexasWord for word“Chevron divested its assets in the Eagle Ford Shale in Texas in March 2022.” 10-K for 2022 | divestiture | March 2022 | — |
40 percent operated interest in OML 86 and OML 88Word for word“In May 2022, Chevron divested its 40 percent operated interest in OML 86 and OML 88.” 10-K for 2022 | divestiture | May 2022 | — |
PDC Energy, Inc.Word for word“In August 2023, Chevron completed the acquisition of PDC, which added 25,000 net acres to our existing position in west Texas.” 10-K for 2023 | acquisition | In August 2023 | — |
ACES Delta, LLCWord for word“In September 2023, Chevron acquired a majority interest in ACES Delta, LLC, a joint venture developing the Advanced Clean Energy Storage (ACES Delta) Project in Delta, Utah.” 10-K for 2023 | acquisition | In September 2023 | — |
62 percent interest in two PSCs in the Kutei Basin (Rapak and Ganal) and 72 percent interest in the Makassar Strait PSCWord for word“Indonesia In October 2023, Chevron closed the sale of its 62 percent interest in two PSCs in the Kutei Basin (Rapak and Ganal) and its 72 percent interest in the Makassar Strait PSC.” 10-K for 2023 | divestiture | In October 2023 | — |
Hess CorporationWord for word“United States Announced a definitive agreement to acquire Hess Corporation (Hess), which is expected to strengthen Chevron’s long-term performance by adding world-class assets and people.” 10-K for 2023 | agreed acquisition | — | — |
Athabasca Oil Sands Project and Duvernay shaleWord for word“Canada Sold the company’s interest in the Athabasca Oil Sands Project and Duvernay shale for $6.5 billion.” 10-K for 2024 | divestiture | — | $6.5 billion |
Petroleum Exploration License 82 in the Walvis BasinWord for word“In early 2025, Chevron acquired an 80 percent-owned and operated interest in PEL82 (Blocks 2112B and 2212A) in the Walvis Basin.” 10-K for 2024 | acquisition | early 2025 | — |
Brightmark RNG Holdings LLCWord for word“In early 2025, Chevron acquired the remaining equity of Brightmark RNG Holdings LLC and renamed the company to Chevron RNG Holdings LLC (Chevron RNG).” 10-K for 2025 | acquisition | early 2025 | — |
Malaysia-Thailand Joint Development Area interestWord for word“Malaysia/Thailand JDA Completed the sale of the company’s interest in the Malaysia-Thailand Joint Development Area.” 10-K for 2025 | divestiture | — | — |
Republic of Congo interestWord for word“Republic of Congo Completed the sale of the company’s interest in the Republic of Congo.” 10-K for 2025 | divestiture | — | — |
Canada Duvernay shale and AOSP assetsWord for word“4 Canada Duvernay shale and AOSP assets were sold in December 2024.” 10-K for 2025 | divestiture | December 2024 | — |
| Fiscal year ended | Cash paid for acquisitions (net of cash acquired) |
|---|---|
| 2021-12-31 | $0 |
| 2022-12-31 | $2.86 billion |
| 2023-12-31 | −$55 million |
| 2024-12-31 | $0 |
| 2025-12-31 | −$1.06 billion |
Deal filings since 2016
- 2023-10-23 Form 8-K, Item 1.01: Entry into a Material Definitive Agreement
- 2019-04-16 Form 8-K, Item 1.01: Entry into a Material Definitive Agreement
Read from Chevron’s annual reports (10-K for 2025, 10-K for 2024, 10-K for 2023, 10-K for 2022) and the financial data it files with the SEC, as of 2026-02-24. Every quotation is word for word from the filing linked beside it; how these pages are built and checked. The full record is in its company data sheet.