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0;switch(e){case"expanded_panel":o='{promoMarkup}{notifMarkup}',r=n._store.getNotifications(),a=n._generatePanelMarkup(o,r),i.innerHTML=a;break;case"error_panel":a=(o='{errorMsg}').replace("{errorMsg}",n._config.panel.errorMsg),i.innerHTML=a}t&&t()}else t&&t(new Error("No panel parent"))}},{key:"createPanelParentNode",value:function(e){e&&(e.innerHTML='',this._panelNode=document.getElementById(D))}},{key:"updateBadgeNode",value:function(e){if(e){var t=this._store.getNotifications().newCount,n=this._config.badge.maxCount;if(t){var o=t>n?n+"+":t;e.innerHTML=o}else e.innerHTML=""}}},{key:"addStyles",value:function(e){if(e&&"undefined"!=typeof window){var t=document.getElementById(this._config.panel.styleTagId);t||((t=document.createElement("style")).type="text/css",t.id=this._config.panel.styleTagId,t.innerText=e,document.head.appendChild(t))}}}]),e}(),U=function(){function e(t,n,o){L(this,e);var i=this;i._store=n,i._view=o,i._config=t;var 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shake-ups. ExxonMobil (NYSE: XOM) announced an all-stock merger with exploration and production (E&P) company Pioneer Natural Resources. Chevron (NYSE: CVX) followed suit with a similar-size deal to buy E&P Hess.ExxonMobil completed its acquisition in May 2024, but it wasn't until July 18, 2025, that Chevron finally announced it had acquired Hess.Here's why Chevron's deal was delayed, what it means for the investment thesis, and which dividend-paying energy stock is the better buy now.Image source: Getty Images.The most valuable aspect of Hess' business is its 30% stake in the Stabroek Block in offshore Guyana. The other holders are ExxonMobil, with a 45% interest, and Chinese state-owned CNOOC with a 25% stake.ExxonMobil has been exploring reserves in offshore Guyana since 2008. In 2015, it achieved its first exploration well. Since then, it and the rest of the consortium have ramped up their production -- reaching 500 million barrels of total oil produced from the Stabroek Block in November 2024. The consortium plans to grow production to 1.3 million barrels per day by the end of 2027.For context, ExxonMobil produced 4.55 million barrels of oil equivalent per day in the first quarter of 2025. Needless to say, Guyana has become one of the company's top producing regions. In fact, it identified Guyana as one of its "advantaged assets," which are high-margin investment opportunities.Other advantaged assets include the company's onshore exposure in the Permian Basin in Texas and its liquefied natural gas (LNG) portfolio. ExxonMobil plans to have 60% of its production come from the Permian, Guyana, and LNG by 2030.Given that it had the largest stake in the Stabroek Block, it was in ExxonMobil's best interest to prevent arguably its largest competitor from joining the consortium. It engaged in a lengthy dispute with Chevron, contending that the deal triggered a change-of-control clause. The ruling went in favor of Chevron, and the deal moved forward.Although ExxonMobil would probably have preferred to partner with a pure-play E&P like Hess rather than a global integrated major like Chevron, the change of ownership won't directly harm ExxonMobil. And Chevron's backing could help the consortium develop the block even faster. As for Chevron, the company gains access to one of the most valuable offshore plays in the world -- rich in reserves with decades of development potential at a low cost of production.Terms and Privacy PolicyPrivacy & Cookie SettingsMore InfoS&P Futures6,437.25 +14.50 (+0.23%)Dow Futures45,081.00 +69.00 (+0.15%)Nasdaq Futures23,583.50 +92.25 (+0.39%)Russell 2000 Futures2,275.20 +5.90 (+0.26%)VIX14.75 -0.28 (-1.86%)Gold3,325.10 +15.10 (+0.46%)PortfolioSign in to access your portfolioSign inTop gainersSCLX Scilex Holding Company 15.52 +3.56 (+29.77%)STEM Stem, Inc. 18.91 +3.92 (+26.15%)NEGG Newegg Commerce, Inc. 39.08 +4.77 (+13.90%)LYEL Lyell Immunopharma, Inc. 13.73 +1.31 (+10.55%)SMCI Super Micro Computer, Inc. 60.05 +5.58 (+10.24%)Top losersCHPT ChargePoint Holdings, Inc. 9.91 -2.30 (-18.85%)ALB Albemarle Corporation 74.77 -8.97 (-10.71%)MCRB Seres Therapeutics, Inc. 13.24 -1.29 (-8.88%)KB KB Financial Group Inc. 78.40 -7.51 (-8.74%)RVTY Revvity, Inc. 95.04 -8.63 (-8.32%)Most activeNVDA NVIDIA Corporation 176.75 +3.25 (+1.87%)TSLA Tesla, Inc. 325.59 +9.53 (+3.02%)WBD Warner Bros. 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