Hess and Exxon Arbitration

Looking for some insight from anyone actually involved in XOM & HES arbitration....what does XOM stand to gain from this arbitration?

Here's the reason for my question.....

If XOM loses the arbitration, then the merger completes and CVX takes over the HES working interest share. With this outcome, the end result is pretty straight forward...
If XOM wins the arbitration, then the CVX & HES merger terminates, and HES remains a stand alone company. With this outcome, XOM does not get to purchase the working interest of HES in Guyana, and HES just continues to operate as before....

XOM has publicly stated more than once that they are not interested in purchasing HES as a whole, so the benefit of arbitration to XOM is not apparent here. I would like to understand the actual reasoning involved here from someone "in the know" (actively involved in the arbitration process).

PLEASE do NOT post your educated guesses here if you're not involved in the process -- there is plenty of speculation from a bazillion analysts out there, so more guess work isn't going to add value here.

Comment! It's anonymous!

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What is the latest timeline? When is next public action expected?

DW will win this. We are very lucky to have such a great leader, an all round great guy who truly follows through with the mindset that employees are our biggest asset

https://www.thegatewaypundit.com/2025/03/trans-parent-knifes-young-children-esophagus-reportedly-severed/

CVX employee #2 here, got any jobs going?

CEO and very senior exec bonuses based in part on performance versus competitors. In this case, knocking CVX back is just as good as own efforts to exceed them.

Longer term, weakening CVX makes them an easier take over candidate.

What do you really expect? Some kind of “deep throat” spilling the beans on an open Internet forum ? You can't be serious, are you? All those really in the know are under strict NDA.
As always, those who know don't talk. Those who talk don't know.

CVX employee here. XOM is playing 4-D chess while our CEO is wondering how much more he can cut to look good for WallStreet.
There are many on our side that are hoping the Hess deal falls through for CVX. If it does, MW more then likely will be ousted by the BOD. Many are willing to take one for the team to see that arrogant S-B get what he deserves.

Even the delay helps XOM. It’s a competition. Many metrics based on how XOM compares to largest competitors (Shell, BP, CVX, Equinor, etc.). So delaying this deal hurts CVX, this helps XOM. And best case, it doesn’t go through at all which really hurts CVX. They need the reserves and production growth.

If Chevron acquires Hess, the Guyana joint venture will become a dinosaur dominated by two major IOCs. Look at Kazakhstan

Who cares?!

Read article 12 (Transfer of Interest or Rights and Change of Control) in the Association of International Energy Negotiators (AIEN) model JOA. This model contract is the industry standard and ExxonMobil uses this model contract with minor modifications. The Hess Merger with CVX triggers the CIC provision "whether through merger, sale of shares or other equity interests or otherwise." It will be interesting to see how CVX-Hess bypassed this clause in how they structured the merger. The model JOA also says " any direct or indirect change in Control of a Party." Probably 50/50 chance Hess stays independent.

You’re going to get a guess anyway since you asked for it.

It’s pretty clear to me. EM wants to keep ahead of competition. Hess is not our competitor. Chevron is.

Thread regarding ExxonMobil Corp. layoffs

Hess and Exxon Arbitration

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