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chevron on Friday unveiled plans to buy in a door go petroleum in a massive deal that would be fun the American oil giants position in shale and natural gas production the price tag of thirty three billion dollars in cash and stock making it the biggest deal in the energy sector since shells fifty three billion dollar acquisition of BG group in twenty sixteen and a dark %HESITATION shares shot up after the announcement for chevron the deal would boost its operations in the Permian basin of West Texas and southeast New Mexico the nation's largest shale oil field it would also expand chevron's drilling operations in the Gulf of Mexico and bolster its exposure to liquefied natural gas known as Ellen G. this is critical for the California based company since climate change has made natural gas the preferred fuel chevron said it expects the deal to close in the second half of this year though it's still subject to regulatory approvals