Exxon claims right of first refusal on Hess' assets in Guyana under an agreement that governs a consortium developing the country's oil resources.
Exxon CEO Darren Woods said the dispute with Chevron over Hess Corp oration's assets in Guyana could drag into next year.
Chevron has rejected Exxon's claims that the agreement applies to its pending all-stock deal to acquire Hess, valued at $53 billion.Darren Woods, chairman and chief executive officer of Exxon Mobil Corp, speaks during the 2024 CERAWeek by S&P Global conference in Houston, Texas, US, on Monday, March 18, 2024."My view is it will go into 2025," Woods told CNBC's David Faber at the Milken Institute's Global Conference in Los Angeles.
Woods said the panel of arbitrators is still being selected and then the process will go into discovery. The CEO has repeatedly expressed confidence that Exxon will prevail in the dispute, saying Exxon wrote the agreement that governs the consortium.
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