Oil and gas giant Chevron said in October that [it would pay $53 billion in stock](https://www.wsj.com/business/energy-oil/chevron-to-buy-hess-for-53-billion-f1373362) for Hess. Unfortunately, [a rival company could play spoiler.](https://www.wsj.com/business/energy-oil/exxon-throws-a-wrench-in-chevrons-deal-for-hess-42fa6483) Exxon Mobil had just inked the largest oil and gas deal in decades weeks earlier by agreeing to [buy shale operator Pioneer Natural Resources](https://www.wsj.com/business/energy-oil/exxon-buys-pioneer-in-60-billion-deal-to-create-shale-giant-207c168b). Chevron had its own big shale deal for Anadarko snatched away years earlier by smaller Occidental and may have been willing to take a risk.
Yahoo! Finance: HES News
