Chevron won its hotly contested legal battle against rival Exxon Mobil, allowing it to immediately close its $53 billion acquisition of Hess on July 18 and give the Big Oil major access to arguably the biggest oil discovery of the century offshore of sparsely populated Guyana.

The Federal Trade Commission on Thursday set aside orders barring Hess (NYSE:HES) CEO John Hess from joining Chevron's (CVX) board and former Pioneer Natural Resources CEO Scott Sheffield from joining Exxon Mobil's (XOM) board (I,

The FTC has reopened an order involving Chevron’s proposed acquisition of Hess, and another regarding Exxon Mobil’s proposed purchase of Pioneer Natural Resources after its initial complaints failed to plead any antitrust law violation.

The share price of Hess Corporation (NYSE:HES) surged by 6.91% between July 7 and July 11, 2025, putting it among the Energy Stocks that Gained the Most This Week. Hess Corporation (NYSE:HES) is a leader in deepwater development and production,