Chevron CEO Is Open to More Deals After $6.3 Billion PDC Tie-Up

Chevron Corp. Chief Executive Officer Mike Wirth says he’s open to more deals after agreeing to buy PDC Energy Inc. for $6.3 billion, but will stay disciplined on price.

Oil and gas producers are flush with cash after raking in record profits over the past year, leaving the US energy patch ripe for a takeover boom. Companies are looking to bulk up and consolidate, acquiring rivals to secure drilling sites for the future.

The PDC tie-up “doesn’t preclude our ability to do further transactions,” Wirth said in a phone interview. “But we don’t have gaps to fill. We’re always looking, ...