International energy giant enters Israeli business: Chevron acquires Noble Energy for $ 5 billionThe international energy giant Chevron is acquiring

The international energy giant Chevron is acquiring the energy company Noble Energy, which is involved in producing gas in Israel. It will buy it for $ 5 billion. This is what Chevron announced.
The stock deal gives Noble $ 10.38 a share, which is 0.1. 191 shares of Chevron, according to a person involved in the matter. This price is 7.6% higher than Noble's closing price on Friday which stood at $ 9.65, and is close to 12% higher than the average of the last ten days. Including Noble's high debt burden, the value of the deal stands at close to $ 13 billion.
Noble Energy is based in Houston Texas in various parts of the world, with the Israeli market recognizing it as a company that came to Israel about 20 years ago and was responsible with Delek Drilling for finding all the gas reserves off the coast of Israel: Yam Tethys in the past, and Tamar and Whale in the present. The company has various holdings in the gas reservoirs and is also a partner of Delek in the Cypriot Aphrodite reservoir. Like the rest of the energy sector, Noble Energy has suffered strong falls in oil prices over the past year.
Delek Group acquired Chevron's North Sea oil assets at the end of 2019, a $ 1.65 billion deal and leverage levels that shocked Delek and led to the possibility of bankruptcy.
Energy Minister Yuval Steinitz welcomed Chevron's entry into the Israeli energy economy, saying that "the acquisition of Noble Energy by the American energy giant 'Chevron' is a tremendous expression of confidence in the Israeli energy economy, and in the continued development and export of natural gas from Israel." If the application is submitted to the Ministry of Energy, it will be examined in accordance with the usual rules. "
The acquisition will expand Chevron's presence in the Colorado Basin and the western Texas and New Mexico area. The acquisition will also provide Chevron, with a market capitalization of $ 163 billion, assets in the Middle East and West Africa, and potential annual savings of $ 300 million, according to insiders.