On November 18, 2009
Chevron’s Acquisition Strategy: Small Companies Need Not Apply
News that Devon Energy plans to offload its international and offshore assets in the Gulf of Mexico has ignited speculation of when and who will snap them up. Exxon Mobil has been batted about as a possible candidate to buy up Devon’s assets. China — with its growing appetite for energy — has shown interest in investing Gulf of Mexico assets and may go after some of Devon’s assets there. What about Chevron? Pat Yarrington, vice president and chief financial officer of Chevron provided Tuesday some insight into the company’s portfolio as well as whether the company is looking for an acquisition target. Yarrington, speaking to investors at the Bank of America Merrill Lynch 2009 Energy Conference, wouldn’t comment on specific M&A targets….
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