On October 9, Texaco, Inc. and Chevron Corp. completed their merger. Chevron changed its name to ChevronTexaco Corp. ChevronTexaco issued approximately 425 million shares of its common stock to Texaco stockholders, whereby Texaco stockholders received 0.77 shares of ChevronTexaco stock for each Texaco share they own. Texaco, Inc. was engaged in the worldwide exploration for and in the production, transportation, refining, and marketing of crude oil, natural gas liquids, natural gas, and petroleum products; power generation; gasification; and other energy technologies. Its exploration program was concentrated in the deepwater Gulf of Mexico, Latin America and West Africa, while its core production areas also included the United States, United Kingdom, North Sea, Middle East, and Pacific Rim. As of 10/9/2001 Texaco, Inc. is a subsidiary of Chevron Texaco, Corp.