The total enterprise value of the transaction is USD50 billion.
"The acquisition of Anadarko will significantly enhance Chevron's already advantaged Upstream portfolio and further strengthen its leading positions in large, attractive shale, deepwater and natural gas resource basins," the company said.
"The combination of Anadarko's premier, high-quality assets with our advantaged portfolio strengthens our leading position in the Permian, builds on our deepwater Gulf of Mexico capabilities and will grow our LNG business.
"It creates attractive growth opportunities in areas that play to Chevron's operational strengths and underscores our commitment to short-cycle, higher-return investments."
Anadarko Chairman and CEO Al Walker added: "The strategic combination of Chevron and Anadarko will form a stronger and better company with world-class assets, people and opportunities.
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