Chevron’s $7.6B purchase of PDC Energy creates the biggest oil and gas company in Colorado

May 23, 2023

Chevron Corp. is buying PDC Energy in a $7.6 billion deal that will make it by far and away the largest oil and gas producer in Colorado and continues a trend in the state of bigger companies gobbling up smaller ones.

PDC Energy shareholders will get stock in San Ramon, California-based Chevron, the second-largest U.S. oil company by share value after ExxonMobil. Chevron will also assume more than $1 billion in PDC Energy debt.

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