Exxon Mobil is buying Pioneer Natural Resources in an all-stock deal valued at $59.5 billion, its largest buyout since acquiring Mobil two decades ago, creating a colossal fracking operator in West Texas.
In the late 1990s, the merger between Exxon and Mobil was valued around $80 billion.
Exxon Mobil Corp. has been using some of that cash on acquisitions.
In July the company announced that it was buying pipeline operator Denbury in an all-stock deal valued at $4.9 billion.
In 2020 the company said it was buying Parsley Energy in an all-stock deal valued at approximately $4.5 billion.
Persons:
Darren Woods, Scott Sheffield, Citi's Alastair Syme, Syme
Organizations:
Exxon Mobil, Natural Resources, Mobil, Exxon, XTO Energy, U.S . Energy Information Administration, Midland Basin, ExxonMobil, Pioneer, “, Exxon Mobil Corp, Parsley Energy, DoublePoint Energy
Locations:
West Texas, Texas, New Mexico, Delaware, Midland, U.S