In a monumental move, Exxon Mobil has announced its acquisition of Pioneer Natural Resources, a deal sealed at a staggering $59.5 billion, marking it as the largest deal by the oil giant since the Exxon and Mobil merger in the late 1990s. This all-stock transaction is not merely a business expansion but a strategic maneuver in the energy sector, particularly focusing on gas production in Texas. Pioneer, with its extensive 850,000 net acres in the Permian Basin in West Texas, will more than double Exxon’s output in a region that contributed to 18% of all U.S. natural gas production in … Continue reading Exxon Mobil, Pioneer, and the $59.5B Merger’s Silent Affirmation to Fossil Fuel Reliance