In October 2023, ExxonMobil merged with Pioneer Natural Resources, followed by Chevron’s acquisition of Hess in July 2025. ExxonMobil’s focus on offshore Guyana since 2008 has yielded 500 million barrels of oil from the Stabroek Block, with plans to reach 1.3 million barrels per day by 2027.

Chevron’s delayed acquisition of Hess was due to a dispute with ExxonMobil regarding a change-of-control clause. Despite the delay, the deal was finalized, giving Chevron access to the valuable Stabroek Block in Guyana. Both ExxonMobil and Chevron have strengthened their positions in the industry by improving production assets and reducing break-even levels.

ExxonMobil and Chevron have significantly improved their operational efficiency, with Chevron’s breakeven estimated to be in the low $30s per barrel. This, combined with their focus on high-margin investments in regions like offshore Guyana, positions both companies as attractive options for value investors seeking passive income.

ExxonMobil and Chevron are both solid investment options with strong dividend yields and steady earnings growth. With ExxonMobil’s 42-year streak of dividend increases and Chevron’s 38-year streak, both companies offer value for investors looking to capitalize on their long-term strategies and growth potential.

Read more at Yahoo Finance: Chevron Overcomes ExxonMobil to Acquire Hess. Which High-Yield Energy Stock Is the Better Buy Now?