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ExxonMobil buys shale giant Pioneer Natural Resources in major resource boost

October 12, 2023 Comments Off

ExxonMobil on Oct. 11 announced a definitive agreement to buy US shale pioneer Pioneer Natural Resources in an all-share deal worth $59.5 billion that it said would more than double its Permian Basin footprint. The US major estimated the combination of Pioneer’s acreage, regarded as the highest quality resource position in the Permian, with its own would lift its total…