Exxon in Advanced Talks to Acquire Pioneer for $60 Billion, Sources Say

According to people familiar with the situation, Exxon Mobil is in advanced talks to buy Pioneer Natural Resources in a deal that could value the producer of the Permian shale field at roughly $60 billion.

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Exxon and Pioneer denied requests for comment. A partnership between the two businesses was originally mentioned in a report

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Thanks to strong oil and gas prices, it made a record $55.7 billion last year and finished the year with $29.6 billion in cash.

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