Exxon Mobil Closing In on Megadeal With Shale Driller Pioneer

Posted on AllSides October 6th, 2023
From The Center
BRIDGET BENNETT/BLOOMBERG NEWS

Exxon Mobil is closing in on a deal to buy Pioneer Natural Resources, a blockbuster takeover that could be worth roughly $60 billion and reshape the U.S. oil industry.

A deal could be sealed as soon as in the coming days, though it is still possible there won’t be one, people familiar with the matter said.

After posting a record profit in 2022, Exxon has been flush with cash and exploring options that would push it deeper into West Texas shale.

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https://www.wsj.com/business/deals/exxon-mobil-closing-in-on-megadeal-with-shale-driller-pioneer-31b4092e

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