Announced
Financials
Tags
Public
Merger
Pending
Friendly
Integrated Oil and Gas
oil & gas
United States
Acquisition
Domestic
Majority
Single Bidder
Synopsis
ExxonMobil, an international petroleum and petrochemical company, agreed to acquire Pioneer Natural Resources, an oil and gas exploration and production company, for $64.5bn. “Pioneer is a clear leader in the Permian with a unique asset base and people with deep industry knowledge. The combined capabilities of our two companies will provide long-term value creation well in excess of what either company is capable of doing on a standalone basis. Their tier-one acreage is highly contiguous, allowing for greater opportunities to deploy our technologies, delivering operating and capital efficiency as well as significantly increasing production. As importantly, as we look to combine our companies, we bring together environmental best-practices that will lower our environmental footprint and plan to accelerate Pioneer’s net-zero plan from 2050 to 2035," Darren Woods, ExxonMobil Chairman and CEO.
© COPYRIGHT 2024 MERGERLINKS LIMITED.
ALL RIGHTS RESERVED.
15 BONHILL STREET, LONDON, EC2A 4DN, UNITED KINGDOM.