Chevron closed its $55 billion acquisition of Hess on Friday after winning a landmark legal battle against larger rival Exxon Mobil to gain access to the largest oil discovery in decades. Chevron CEO Mike Wirth's strategy to turn around his company's lagging performance hinged on the acquisition,

Chevron will proceed with its $53 billion acquisition of Hess, after it prevailed in a landmark legal battle against larger rival Exxon Mobil to gain access to the largest oil discovery in decades.

Chevron completed its $53 billion acquisition of Hess after all legal hurdles were cleared, including the company's vast oil fields off the coast of Guyana.