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Barchart
Will Ashworth

Exxon’s Potential Pioneer Deal: Short-Term Gains for Long-Term Pain

Pioneer Exxon Mobil Oil Pioneer Natural Resources XOM Darren Woods Ed Morse IISD Permian Basin Renewable Energy

On Monday, Pioneer Natural Resources (PXD) stock rose nearly 6% PXD) stock rose almost 6% on Monday on news that the Permian Basin’s third-largest oil producer was conducting informal sale discussions with Exxon Mobil (XOM).  

Exxon Mobil is looking to boost its global oil inventory while adding to its Permian Basin assets. Pioneer’s enterprise value is $56 billion, or one-ninth Exxon Mobil’s, so it would be a relatively easy buy for America’s largest oil and gas integrated producer. 

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