Exxon Nears $60 Billion Acquisition of Pioneer in Record Energy Deal
- Exxon Mobil is in advanced talks to acquire Pioneer Natural Resources for around $60 billion, its largest deal since acquiring Mobil in 1998.
- The potential acquisition would expand Exxon's presence in the Permian Basin, a major US oil and gas region.
- Pioneer is currently the third-largest producer in the Permian and would significantly boost Exxon's production there.
- The deal aligns with the trend of large oil companies pursuing growth through acquisitions amid investor pressure.
- If successful, the merger would make Exxon the dominant driller in the Permian Basin and reshape the US oil industry.
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