Exxon is in talks to acquire Pioneer Natural Resources in a deal that could be worth up to $60 billion, the Wall Street Journal has reported, citing unnamed sources. This would be the biggest deal for Exxon since the merger with Mobil back in the 1990s and would make the supermajor the dominant producer in the Permian. Pioneer, according to the report, has a market cap of about $50 billion.
'It makes complete sense,' Bill Smead, chief investment officer of Smead Capital Management, told Reuters. 'You replenish your reserves without poking holes in the ground.' Indeed, consolidation has become the preferred method of growth for the large players in the U.S. shale patch. The last two years saw a string of large deals, including Occidental’s acquisition of Anadarko for some $38 billion.
Portugal Últimas Notícias, Portugal Manchetes
Similar News:Você também pode ler notícias semelhantes a esta que coletamos de outras fontes de notícias.
Fonte: OilandEnergy - 🏆 34. / 68 Consulte Mais informação »