Hess Corporation stock becomes a Chevron holding after merger
Published on 09/28/2026 at 17:22 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS
Hess Corporation stock (ISIN US42809H1077) became part of Chevron through a merger completed on July 18, 2025. The exchange ratio was 1.0250 Chevron shares for each Hess share, making the transaction the decisive reference point for former Hess investors.
As Hess Corporation states on its investor website, the Chevron-Hess merger is complete. The company page presents Hess assets within Chevron's global energy portfolio rather than as a separate listed business.
One Hess share became 1.0250 Chevron shares
The share exchange defines the economic bridge between the old Hess listing and the combined company. Chevron intended to issue approximately 301 million common shares from treasury to Hess stockholders, while 15.38 million Hess shares already held by Chevron were canceled for no consideration, according to the merger announcement.
The structure matters because the former Hess equity story is now expressed through Chevron stock. For investors reviewing historical Hess positions, the 1.0250-for-one ratio is the central conversion figure, while Chevron's share price and operating results determine the continuing market value of the consideration.
Guyana supplied the strategic value
The transaction transferred Hess's 30% position in Guyana's Stabroek Block into Chevron's portfolio. The block had more than 11 billion barrels of oil equivalent in discovered recoverable resources, while Hess also contributed 463,000 net Bakken acres and production assets in the Gulf of America and Southeast Asia.
Chevron also said the combination was expected to deliver USD 1 billion in annual run-rate cost synergies by the end of 2025. That target and the Guyana stake explain why the deal remains the key company-specific reference for Hess Corporation stock, even after the standalone listing ended.
Transaction terms define the closing reference
The relevant dated company event is July 18, 2025, when Chevron announced completion of the acquisition. Hess shareholders received shares rather than a cash payment, so the former Hess investment is now linked to Chevron's equity performance and the execution of the acquired Guyana and Bakken assets.
Hess Corporation transaction snapshot
- Company: Hess Corporation
- ISIN: US42809H1077
- Ticker: HES
- Trading venue: NYSE
- Merger completion: July 18, 2025
- Exchange ratio: 1.0250 Chevron shares per Hess share
- Guyana interest: 30% of the Stabroek Block
