It’s a shale party on Wall Street, and everyone’s invited.

A host of American shale oil producers saw their shares spike on Friday after Chevron announced it agreed to buy Anadarko Petroleum in a $50bn deal.

Among the top 10 gainers in the S&P 500, eight were oil companies with sizeable shale operations. Anadarko was the biggest winner in the benchmark index, surging 32.8 per cent. Runner-up Pioneer Natural Resources was up 11.2 per cent, and Concho Resources jumped 10.3 per cent. The duo’s gains added a combined $5bn to their market values.

Other shale-centric oil stocks also posted big gains. Noble Energy, Devon Energy and Diamondback Energy were each up at least 7 per cent, EOG Resources advanced 5.7 per cent and Cimarex Energy rose 5 per cent.

The Anadarko purchase will give Chevron a larger footprint in the fast-growing Permian Basin of Texas and New Mexico, which, according to the US Energy Information Administration, has driven domestic oil production to new record highs this year. Chevron’s offer was worth $65 a share — a premium of nearly 40 per cent based on Thursday’s market close.