Chevron (CVX) shares fell 2% in intraday trading Tuesday after the energy giant warned its planned 澳洲幸运5官方开奖结果体彩网:$53 billion purchase of Hess (HES) could be jeopardized by a challenge from ExxonMobil (XOM) and China 💜Naꦺtional Offshore Oil Corporation (CNOOC).

The dispute centers on a joint operating agreement (JOA) signed more than a decade ago relating to the Stabroek Block offshore oil field in Guyana. Hess entered the deal in 2014 when it bought the stake owned by Shell (SHEL), giving it 30% of the ExxonMob💯il-run consortium. A stipulation in the JOA allowed existing partners, such as Exx🐼onMobil and CNOOC, to participate in any changes in ownership.

Chevron said in a regulatory filing Tuesday that it is in discussions with the two firms regarding their right of first refusal in the JOA. It said that if the talks don’t result in an acceptable resolution and, if pursued, arbitration, “then there would be a failure of a closing condition under the Merger Agreement, in which case the merger would not close.”

Chevron added that the Hess transaction might not happen “within the time frame the co𒈔mpany anticipates or at all, which could have adverse effects on Chevron.”

The oil giant noted that if the acquisition doesn’t go through, it could cause financial results to be different from expectations by Chevron or the investment community. In addition, “the company may not achieve the anticipated benefits of the acquisition, and the acquisition may disr🤪upt the company’s current plans or operations.”

Chevron announced it was buying Hess in October, and getting access to the Guyana site was a key factor in driving the sale.

Chevron shares were down 2.1% at $151.27 as of noon ET Tuesday, while Hess shares were 3.1% lower at $145.35. ExxonMobil shares were 0.1% lower at $104.16.