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ExxonMobil and Pioneer Natural Resources logos are seen in this illustration taken, October 8, 2023. Pioneer shares closed at $237.41 on Tuesday, having risen 11% since the first reports of a deal surfaced last Thursday. Exxon declined to comment on "market speculation," while Pioneer did not immediately respond to a request for comment. It is the third-largest oil producer in the Permian basin, after Chevron Corp (CVX.N) and ConocoPhillips (COP.N), with rock-bottom production costs averaging about $10.50 per barrel of oil and gas. Under CEO Scott Sheffield, the oil producer grew through rapid-fire purchases, including multi-billion dollar deals in 2021 for DoublePoint Energy and Parsley Energy.

Persons: Dado Ruvic, Darren Woods, Scott Sheffield, Exxon's, Shubhendu, Anirban Sen, Sabrina Valle, Gary McWilliams, Rashmi Aich, Jamie Freed Organizations: ExxonMobil, Pioneer, REUTERS, Exxon Mobil, Natural Resources, Exxon, Mobil Oil, Antitrust, Reuters, Exxon socked, Chevron Corp, ConocoPhillips, DoublePoint Energy, Parsley Energy, BG Group, Bloomberg News, Denbury Inc, Denbury, Shubhendu Deshmukh, Thomson Locations: HOUSTON, Ukraine, U.S, Bengaluru, New York, Houston

☆ What's behind Exxon's mega-merger and the stocks that could be next
▼ + stars: | 2023-10-11 | by ( Jesse Pound | In Jesse-Pound | ) www.cnbc.com time to read: +6 min

Here's a look at what Exxon is getting in Pioneer and how Wall Street is reacting to the deal. Piper Sandler analyst Ryan Todd also pointed to Chevron as a company that could feel added pressure from Exxon's acquisition of Pioneer. Exxon's Denbury deal, for example, seeks to capitalize on a carbon capture, utilization, and storage (CCUS) company on the Gulf Coast and Rocky Mountain regions. What it means for Exxon's stock Piper Sandler's Todd maintained his overweight rating on Exxon on Wednesday and praised the Pioneer deal. However, Exxon's stock was down 3% in early trading Wednesday, while Pioneer rose just 1%, suggesting others are less sure.

Persons: Warren Buffett, Darren Woods, John Silverstein, Woods, We're, Biraj Borkhataria, Piper Sandler, Ryan Todd, Exxon's, Piper Sandler's Todd, RBC's, Borkhataria, — CNBC's Michael Bloom Organizations: Exxon Mobil, Natural Resources, Exxon, Mobil, Denbury, Occidental Petroleum, UBS, Pioneer, EOG, APA Corp, RBC Capital Markets, Chevron, CVX, RBC Locations: United States, West Texas, New Mexico, Midland, Gulf

☆ Here's how the Club's energy stocks are responding to oil's move higher on geopolitical risk
▼ + stars: | 2023-10-09 | by ( Kevin Stankiewicz | In Kevinstankiewicz | ) www.cnbc.com time to read: +5 min

To be sure, even with Monday's advance, oil prices remain well off their late September peaks. In addition to receiving a lift from crude's gain, Coterra is benefiting from the continued strength in natural gas. On Monday, natural gas futures rose another 1%, to around $3.37 per million British thermal units. Last week, natural gas surged 14% to reach its highest price since late January. The stock's massive outperformance Friday means that any financial benefit Pioneer would receive from Monday's higher oil prices was already captured in the session prior.

Persons: Morgan Stanley, Israel, Brent, WTI, John Kilduff, Jim Cramer, Jim, Pioneer's, CNBC's David Faber, Exxon's, Jim Cramer's, Richard Eden Organizations: Hamas, Natural Resources, Coterra Energy, West Texas, Brent, Gaza, CNBC, Energy, State Street Global Advisors, P Oil & Gas Exploration, Production, Exxon Mobil, Journal, Club, Exxon, Denbury Inc, Silhouette, Getty Locations: Palestinian, Israel, U.S, Palestinian Territories, Houston, Midland , Texas

☆ Montana judge hands historic win to young plaintiffs in climate change case
▼ + stars: | 2023-08-14 | by ( Clark Mindock | ) www.reuters.com time to read: +2 min

View of an extension of Denbury Inc's Greencore carbon pipeline which connects to a pump station, in Montana, U.S., 2021. Denbury/Handout via REUTERS/File PhotoAug 14 (Reuters) - Montana is violating the rights of young people with policies that prohibit the state from considering climate change effects when it reviews coal mining, natural gas extraction and other fossil fuel projects, a state judge said Monday. In a June trial, the youths argued that despite its sparse population, Montana is responsible for an outsized share of global emissions. A spokesperson for the Montana attorney general's office called the ruling "absurd," and Seeley an "ideological judge who bent over backward to allow the case to move forward." Julia Olson, an attorney for Our Children's Trust, which represented the young people, called the decision a "huge win for Montana" and said similar decisions were likely to follow in different states.

Persons: Kathy Seeley, hadn't, Seeley, Julia Olson, Clark Mindock, Alexia Garamfalvi, Cynthia Osterman Organizations: REUTERS, Montana, Thomson Locations: Montana , U.S, Handout, Montana, Helena, U.S

The deal builds out Exxon's plan to develop an emerging market that makes money from reducing its own and others' greenhouse gases. Carbon sequestration is the favored strategy for U.S. oil and gas companies to reduce emissions while continuing to expand oil and gas production. Last year, Exxon struck its first commercial carbon storage deal with top ammonia maker CF Industries. The Denbury deal "reflects our determination to profitably grow our low carbon solutions business," Exxon CEO Darren Woods said in a statement. The all-stock transaction represents a 1.9% premium to Denbury's Tuesday close at 0.84 Exxon shares for each Denbury share.

Persons: Raymond James, Pavel Molchanov, Denbury, Darren Woods, Sabrina Valle, Arathy, Arunima Kumar, Savio D'Souza, Shilpi Majumdar, Conor Humphries Organizations: Denbury, Exxon Mobil Corp, Denbury Inc, Exxon, Linde AG, CF Industries, Carbon Solutions, Thomson Locations: HOUSTON, Plano , Texas, U.S, Texas, Alabama, Houston, Bengaluru

☆ Small Oil Producer Stands to Win Big From Biden’s Climate Bill
▼ + stars: | 2023-01-29 | by ( Benoît Morenne | ) www.wsj.com time to read: 1 min

Middling oil producer Denbury Inc. emerged from bankruptcy in September 2020 with a collection of aging wells, pipelines to move around carbon dioxide and uncertain prospects. Today, the Dallas-based company is one of the big winners of the Biden administration’s signature climate bill.

☆ Exxon Mobil in talks to buy oil & gas producer Denbury -Bloomberg News
▼ + stars: | 2022-10-10 | by ( Marianna Parraga | ) www.reuters.com time to read: +1 min

Oct 10 (Reuters) - Exxon Mobil Corp (XOM.N) is considering a takeover of oil and gas producer Denbury Inc (DEN.N) and the talks are at a preliminary stage, Bloomberg News reported on Monday, citing people familiar with the matter. Denbury is expected to be fetch a significant premium if it proceeds with the sale, making it a potentially sizable transaction. Register now for FREE unlimited access to Reuters.com RegisterDenbury has been exploring options and is working with an advisor on a potential sale, sources familiar with the matter have previously told Reuters. Other potential buyers could include oil majors such as Chevron Corp (CVX.N), the sources said. Exxon declined to comment and Denbury did not immediately respond to Reuters' request for comment.

☆ Exxon Mobil considers buying energy company Denbury- Bloomberg News
▼ + stars: | 2022-10-10 | by ( ) www.reuters.com time to read: 1 min

Oct 10 (Reuters) - Oil major Exxon Mobil Corp (XOM.N) is considering acquiring Denbury Inc (DEN.N), Bloomberg News reported on Monday, citing people familiar with the matter. Shares of Plano, Texas-based energy company Denbury rose 8% on the report. Exxon has expressed preliminary interest in Denbury, but no final decision has been made, the report said, adding the oil major could opt against proceeding with a potential deal. Denbury was exploring options including a sale, Bloomberg reported in August. Exxon declined to comment and Denbury did not immediately respond to Reuters request for comment.

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