Not even a full two weeks ago, MDN brought you the news that Exxon Mobil, the #5 oil producer in the Permian Basin, is buying Pioneer Natural Resources, the #1 oil producer in the Permian, in an all-stock deal valued at $59.5 billion, plus assuming $5 billion in debt, for a total deal value of $64.5 billion (see Shale Megadeal: Exxon Buys Pioneer Natural Res. for $64.5 Billion). We told you that experts were predicting Exxon’s megamerger with Pioneer would touch off more mergers. And it has. Chevron announced via press release this morning that it is buying Hess Corporation in an all-stock transaction valued at $53 billion. Chevron doesn’t want to be left behind in the oil drilling wars.
Not even a full two weeks ago, MDN brought you the news that Exxon Mobil, the #5 oil producer in the Permian Basin, is buying Pioneer Natural Resources, the #1 oil producer in the Permian, in an all-stock deal valued at $59.5 billion, plus assuming $5 billion in debt, for a total deal value of $64.5 billion (see 