Exxon Mobil in advanced talks for $60 billion acquisition of Pioneer-sources
By David French and Anirban Sen
(Reuters) — Exxon Mobil (NYSE:XOM) is in advanced talks to acquire Pioneer Natural Resources (NYSE:PXD) in a deal that could value the Permian shale basin producer in the region of $60 billion, people familiar with the matter said on Thursday.
The acquisition would expand Exxon's footprint in one of the most lucrative areas of the U.S. oil patch. Pioneer is the third-largest producer of oil in the Permian basin after Chevron Corp (NYSE:CVX) and ConocoPhillips (NYSE:COP).
If the negotiations conclude successfully, an agreement could be reached in the coming days, the three sources said, asking not to be identified because the matter is confidential.
Spokespeople for Exxon and Pioneer declined to comment. The Wall Street Journal first reported on Thursday that a deal is imminent.
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