ExxonMobil completed the acquisition of Pioneer Natural Resources for $64.5bn.

ExxonMobil, an international petroleum and petrochemical company, completed the acquisition of Pioneer Natural Resources, an oil and gas exploration and production company, for $64.5bn. “This premier, tier-one asset is a natural fit for our Permian portfolio and gives us a greater opportunity to deploy our technology and deliver operating and capital efficiency for long-term shareholder value. The combination of our two companies benefits this country’s energy security and economy, and also furthers society’s environmental ambitions as we move Pioneer’s 2050 net zero goal to a 2035 plan,” Darren Woods, ExxonMobil Chairman and CEO.