Exxon Mobil Reportedly Nearing $60B Megadeal To Buy Pioneer Natural Resources
Portfolio Pulse from Benzinga Neuro
Exxon Mobil Corp. is reportedly close to finalizing a $60 billion acquisition deal with Pioneer Natural Resources Co. This deal could transform the U.S. oil landscape and secure Exxon's dominance in the oil-rich Permian Basin. The acquisition would be Exxon's most significant since its 1999 merger with Mobil. The deal could also trigger a wave of consolidation within the shale industry.
October 06, 2023 | 2:33 am
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Pioneer Natural Resources Co. is reportedly close to being acquired by Exxon Mobil Corp. for $60 billion. This could trigger a wave of consolidation in the shale industry.
The potential acquisition by Exxon Mobil could lead to a positive impact on Pioneer Natural Resources' stock price, especially considering the size of the deal.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100
POSITIVE IMPACT
Exxon Mobil Corp. is reportedly close to acquiring Pioneer Natural Resources Co. for $60 billion. This could secure Exxon's dominance in the Permian Basin and trigger a wave of consolidation in the shale industry.
The acquisition of Pioneer Natural Resources could significantly boost Exxon's presence in the oil-rich Permian Basin, potentially leading to a positive impact on its stock price.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100