Exxon's Potential Acquisition of Pioneer Natural Resources Boosts Shale Stocks.
TL;DR
American shale producers' shares rose after reports that Exxon was in informal talks for the potential acquisition of Pioneer Natural Resources, whose stock jumped 8.5% on the day. The market is viewing Exxon’s purchase as the potential start of an M&A spree, with Big Oil flush with cash and Permian asset holders looking attractive. Chevron is also potentially on the lookout for Permian assets this year.
Topics:businessenergy#energy#exxon#mergers-and-acquisitions#permian-assets#pioneer-natural-resources#shale-producers
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