News Formal

Exxon to buy Pioneer for $59.5B, reshaping U.S. oil industry

  • 📰 axios
  • ⏱ Reading Time:
  • 18 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 10%
  • Publisher: 63%

Malaysia News News

Malaysia Malaysia Latest News,Malaysia Malaysia Headlines

It could also produce an antitrust face-off with a White House that's already at odds with Big Oil.

It also could produce an antitrust face-off with a White House that's already at odds withThe merger would more than double Exxon's production in the Permian Basin to 1.3 million barrels of oil-equivalent per day, with expected growth to 2 million daily in 2027.The proposed deal is a $59.

5 billion all-stock merger at $253-per-share that rises to a value of $64.5 billion once debt is included.Exxon buying Pioneer would be an audacious move in a proven region, enabled by strong balance sheets after the oil price run-up in recent years.Editor's note: This is a breaking news story. Check back for updates.Share on linkedin

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 302. in MY
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Malaysia Malaysia Latest News, Malaysia Malaysia Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Stocks making the biggest moves premarket: Plug Power, Exxon Mobil, Pioneer, Novo Nordisk and moreThese are the stocks posting the largest moves in premarket trading.
Source: CNBC - 🏆 12. / 72 Read more »

Stocks making the biggest moves premarket: Plug Power, Exxon Mobil, Pioneer, Novo Nordisk and moreThese are the stocks posting the largest moves in premarket trading.
Source: NBCNewYork - 🏆 270. / 63 Read more »