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ExxonMobil’s $60 billion purchase of Pioneer creates Permian powerhouse

October 12, 2023 Comments Off

ExxonMobil said Oct. 11 it would buy Pioneer Natural Resources for $59.5 billion , creating a Permian Basin powerhouse by more than doubling its footprint in the shale play. The combined assets would lift Permian crude production to 2 million b/d of oil equivalent by 2027, ExxonMobil said. Total global combined output would be roughly 4.4 million boe/d, based on…