M&A Deal Summary

Chevron Acquires Texaco

On October 16, 2000, Chevron acquired oil/gas exploration company Texaco for 36.0B USD

Acquisition Highlights
  • This is Chevron’s 1st transaction in the Oil/Gas Exploration sector.
  • This is Chevron’s 2nd largest (disclosed) transaction.
  • This is Chevron’s 2nd transaction in the United States.
  • This is Chevron’s 1st transaction in New York.

M&A Deal Summary
Date 2000-10-16
Target Texaco
Sector Oil/Gas Exploration
Buyer(s) Chevron
Deal Type Merger
Deal Value 36.0B USD
Advisor(s) Credit Suisse Investment Banking
Morgan Stanley (Financial)

Target

Texaco

White Plains, New York, United States
website
Texaco, Inc. is a refiner and retailer of gasoline and petroleum products. It was formed in 1901 in Beaumont, Texas.

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Buyer(S) 1

Buyer

Chevron

San Ramon, California, United States

website

Category Company
Founded 1879
Sector Oil/Gas Exploration
Employees43,846
Revenue 235.7B USD (2022)
DESCRIPTION
Chevron office in downtown Houston, Texas.
Chevron office in downtown Houston, Texas.

Chevron is a fully integrated energy company. Its business includes petroleum operations, chemicals, mining operations, power generation and energy services. Chevron's exploration and production operations consists of exploration, development and production of crude oil and natural gas. Chevron was incorporated in 1879 and is based in San Ramon, California.

DEAL STATS #
Overall 2 of 18
Sector (Oil/Gas Exploration) 1 of 13
Type (Merger) 1 of 2
State (New York) 1 of 4
Country (United States) 2 of 15
Year (2000) 2 of 2
Size (of disclosed) 2 of 7
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2000-07-01 Chevron Phillips Chemical Co

The Woodlands, Texas, United States

Chevron Phillips Chemical Co LLC is a producer of olefins and polyolefins and a supplier of aromatics, alpha olefins, styrenics, specialty chemicals, piping, and proprietary plastics.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2004-05-11 ChevronTexaco Worldwide Gasification Technology

Houston, Texas, United States

ChevronTexaco Worldwide Gasification Technology, engages in producing and transporting crude oil and natural gas, and marketing and distributing fuels and other energy products.

Sell -
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