1. Chevron Won't Counterbid for Anadarko

    Chevron Won't Counterbid for Anadarko

    Chevron Corp. is bowing out of the bidding to buy Anadarko Petroleum Corp., setting the stage for Occidental Petroleum Corp. to win one of the most high-stakes energy-deal dramas in years. In seeking Anadarko, Chevron and Occidental coveted prized assets in the Permian Basin in West Texas and New Mexico, the heart of the U.S. oil boom...

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    1. Costs and capital discipline always matter.
    2. We look forward to signing a merger agreement with Anadarko and realizing value for our stakeholders as soon as possible.
    3. At the end of the day, it was probably the right decision for Chevron.
    4. That's the door they've been able to open.
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