Company Execs Say Two-Third Of Synergies From Exxon-Pioneer Deal To Come From Increased Resource Recovery, Remaining Mostly From Capex Efficiencies; Exxon Not Looking At Cutting Rig Operations Or Headcount After Pioneer Deal Closes
Portfolio Pulse from Benzinga Newsdesk
Executives from Exxon Mobil Corp and Pioneer Natural Resources Co have stated that two-thirds of the synergies from their deal will come from increased resource recovery, with the remainder mostly from capital expenditure efficiencies. Exxon has no plans to cut rig operations or headcount after the deal closes.
October 11, 2023 | 4:25 pm
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POSITIVE IMPACT
Pioneer Natural Resources' deal with Exxon is expected to increase resource recovery and improve capital expenditure efficiencies. No cuts in rig operations or headcount are planned post-deal.
The deal is expected to bring significant synergies to Pioneer, primarily through increased resource recovery and capex efficiencies. The fact that no cuts in rig operations or headcount are planned indicates a positive outlook for the company's operations post-deal.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100
POSITIVE IMPACT
Exxon Mobil's deal with Pioneer is expected to increase resource recovery and improve capital expenditure efficiencies. No cuts in rig operations or headcount are planned post-deal.
The deal is expected to bring significant synergies to Exxon, primarily through increased resource recovery and capex efficiencies. The fact that no cuts in rig operations or headcount are planned indicates a positive outlook for the company's operations post-deal.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100