ExxonMobil completes $60bn acquisition of Pioneer Natural Resources, expanding Permian Basin presence.

ExxonMobil has completed its $60 billion acquisition of Pioneer Natural Resources, creating an unconventional business with the largest high-return development potential in the Permian Basin. The combined company has over 1.4 million net acres in the Delaware and Midland basins, with an estimated 16 billion barrels of oil equivalent resource. ExxonMobil's Permian production volume is projected to more than double to 1.3 million barrels of oil equivalent per day by 2023.

May 03, 2024
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