Chevron to buy Anadarko, grow oil and gas operations in the Permian Basin

One of the nation’s largest oil and gas companies is expanding its presence in the Permian Basin with a multi-billion-dollar acquisition of Texas-based Anadarko Petroleum.

The $33 billion transaction included all of Anadarko’s assets, valued at about $50 billion, read a Friday news release from Chevron Energy.

Chevron Chief Executive Officer Michael Wirth said the deal would “significantly” increase the company’s Permian activities and in the export market on the Gulf Coast.