Drilling For Oil On The NYSE, Pt. II: Exxon In Talks To Buy Pioneer In $60 Billion Megadeal (XOM; PXD)

From the Wall Street Journal via MSN, October 5: 

Exxon Mobil Closing In on Megadeal With Shale Driller Pioneer

Exxon Mobil is closing in on a deal to buy Pioneer Natural Resources, a blockbuster takeover that could be worth roughly $60 billion and reshape the U.S. oil industry.

A deal could be sealed as soon as in the coming days, though it is still possible there won’t be one, people familiar with the matter said.

After posting a record profit in 2022, Exxon has been flush with cash and exploring options that would push it deeper into West Texas shale.

An acquisition of Pioneer, with a market cap of around $50 billion, would likely be Exxon’s largest deal since its megamerger with Mobil in 1999. It would give Exxon a dominant position in the oil-rich Permian Basin of West Texas and New Mexico, a region the oil giant has said is integral to its growth plans....

....MUCH MORE

Earlier today:
"Drilling for Oil on the NYSE"