Sometimes, news comes along in the oil and gas world that is so big, even when it doesn’t directly involve the Marcellus/Utica, we feel a responsibility to report it. Today is one of those days. The rumor mill has been swirling for weeks that Exxon Mobil is interested in buying Pioneer Natural Resouces, the number one producer in the Permian Basin. Exxon is currently the number five Permian producer. This morning, a deal was announced. Exxon is buying Pioneer 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.
Sometimes, news comes along in the oil and gas world that is so big, even when it doesn’t directly involve the Marcellus/Utica, we feel a responsibility to report it. Today is one of those days. The rumor mill has been swirling for weeks that Exxon Mobil is interested in buying Pioneer Natural Resouces, the number one producer in the Permian Basin. Exxon is currently the number five Permian producer. This morning, a deal was announced. Exxon is buying Pioneer 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.