8-KOther Events

CHEVRON CORP 8-K Report (Nov 19, 2001)

Filed November 19, 2001For Securities:CVX

Summary

Chevron Corporation has officially completed its merger with Texaco Inc. on October 9, 2001, creating a new entity named ChevronTexaco Corporation. This significant transaction, accounted for as a pooling of interests, positions the combined company as a major player in the energy sector. Investors should note that this 8-K filing primarily serves to report the consummation of this merger and provides access to extensive historical financial and operational data for both companies prior to the combination. The attached exhibits offer a detailed look at the 'Review of Operations' from 1998-2000, 'Audited Supplemental Combined Financial Statements' for the same period, and 'Supplemental Information on Oil and Gas Producing Activities.' Additionally, a 'Financial Summary' from 1996-2000 and 'Audited Schedule II -- Valuation and Qualifying Accounts' are included. This comprehensive data allows investors to assess the historical performance and financial health of the predecessor entities and to better understand the basis for the combined company's future prospects.

Key Highlights

  • 1Chevron Corporation completed its merger with Texaco Inc. on October 9, 2001.
  • 2The combined entity is now named ChevronTexaco Corporation.
  • 3The merger was accounted for using the pooling of interests method.
  • 4Texaco Inc. has become a wholly owned subsidiary of ChevronTexaco Corporation.
  • 5The filing includes extensive historical financial and operational data from 1996 through 2000 for both entities.
  • 6Key financial statements and operational reviews for the period 1998-2000 are incorporated by reference.
  • 7Consents from PricewaterhouseCoopers LLP and Arthur Andersen LLP are included, indicating their roles as independent accountants.

Frequently Asked Questions

The main event reported is the consummation of the merger between Chevron Corporation and Texaco Inc., which officially closed on October 9, 2001. As a result of this merger, Chevron Corporation changed its name to ChevronTexaco Corporation.

The merger was accounted for as a 'pooling of interests'. This accounting method combines the assets and liabilities of both companies as if they had always been merged, presenting a continuous historical financial record.

This filing incorporates by reference several exhibits containing detailed historical financial and operational information for both Chevron and Texaco for the periods 1996-2000. This includes audited supplemental combined financial statements, operational reviews, information on oil and gas producing activities, and a financial summary.

The formation of ChevronTexaco Corporation signifies the creation of a larger, potentially more integrated energy company. Investors should review the provided historical financial data to understand the combined entity's scale, historical performance, and the potential synergies and strategic advantages expected from this merger.