M&A Deal Summary

Chevron Acquires Beyond6

On November 17, 2022, Chevron acquired oil/gas exploration company Beyond6 from Mercuria Energy Group

Acquisition Highlights
  • This is Chevron’s 11th transaction in the Oil/Gas Exploration sector.
  • This is Chevron’s 12th transaction in the United States.
  • This is Chevron’s 3rd transaction in New York.

M&A Deal Summary
Date 2022-11-17
Target Beyond6
Sector Oil/Gas Exploration
Buyer(s) Chevron
Sellers(s) Mercuria Energy Group
Deal Type Divestiture

Target

Beyond6

Saratoga Springs, New York, United States
Beyond6 is an operator of network of 55 compressed natural gas (CNG) stations. Beyond6 is based in Saratoga Springs, New York.

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Buyer(S) 1

Buyer

Chevron

San Ramon, California, United States
Category Company
Founded 1879
Sector Oil/Gas Exploration
Employees45,600
Revenue 196.9B USD (2023)
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 15 of 19
Sector (Oil/Gas Exploration) 11 of 13
Type (Divestiture) 4 of 4
State (New York) 3 of 4
Country (United States) 12 of 16
Year (2022) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-02-28 Renewable Energy Group

Ames, Iowa, United States

Renewable Energy Group is an energy and transportation company that transitions to sustainability by converting renewable resources into high-quality, sustainable fuels. REG is an international producer of sustainable fuels that significantly lower greenhouse gas emissions to immediately reduce carbon impact. REG utilizes a global integrated procurement, distribution, and logistics network to operate 11 biorefineries in the U.S. and Europe. Renewable Energy Group was formed in 1996 and is based in Ames, Iowa.

Buy $3.2B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-05-22 PDC Energy

Denver, Colorado, United States

PDC Energy is a natural gas company. PDC maintains a balanced liquids to natural gas portfolio through horizontal drilling while maintaining a solid balance sheet and ample liquidity. PDC Energy was founded in 1969 and is based in Denver, Colorado.

Buy $7.6B

Seller(S) 1

SELLER

Mercuria Energy Group

Larnaca, Cyprus
Category Company
Founded 2004
Sector Energy Services and Equipment
Revenue 106.0B USD (2014)
DESCRIPTION

Mercuria Energy Group Ltd. is an energy and commodity trading company. Mercuria trades physical oil, energy products and other commodities from business hubs in Geneva, London, Singapore, Shanghai and Houston.

DEAL STATS #
Overall 3 of 3
Sector (Oil/Gas Exploration) 1 of 1
Type (Divestiture) 2 of 2
State (New York) 2 of 2
Country (United States) 3 of 3
Year (2022) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-11-15 Jupiter Power

Austin, Texas, United States

Jupiter Power is a battery energy storage infrastructure platform with deep trading, analytics, development, finance, operations, and construction capabilities and unparalleled intellectual property in dispatch optimization. Jupiter Power is based in Austin, Texas.

Sell -
Mergr

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