Exxon Mobil is buying Pioneer Natural Resources in an all-stock deal valued at $59.5 billion, its largest buyout since acquiring Mobil two decades ago, creating a colossal fracking operator in West Texas.
Exxon purchased XTO Energy in 2009 for approximately $36 billion. In the late 1990s, the merger between Exxon and Mobil totaled more than $80 billion.
Exxon has been flush with cash. The company posted record annual profits in 2022, bringing in $55.7 billion in annual profits, exceeding its previous record of $45.22 billion in 2008.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Exxon Mobil agrees to buy Pioneer Natural Resources for nearly $60 billion in all-stock mergerThis is breaking news. Please check back for updates.
Read more »
Exxon Mobil buying buys Pioneer Natural in $59.5 billion deal with energy prices surgingExxon Mobil is buying Pioneer Natural Resources in an all-stock deal valued at $59.5 billion, making it one of the oil giant’s biggest transactions ever. The transaction’s value, including debt, is about $64.5 billion. Pioneer shareholders will receive 2.3234 shares of ExxonMobil for each Pioneer share.
Read more »
Exxon Mobil to buy Pioneer Natural Resources in $59.5 billion all-stock dealExxon to pay the equivalent of $253 for each Pioneer share outstanding
Read more »
Exxon Mobil agrees to buy Pioneer Natural Resources for nearly $60 billion in all-stock mergerExxon Mobil said Wednesday it agreed to buy shale rival Pioneer Natural Resources for $59.5 billion in an all-stock deal.
Read more »
Exxon-Pioneer tie up could squeeze US shale oil suppliers, pipelinesExxon-Pioneer tie up could squeeze US shale oil suppliers, pipelines
Read more »