• Home
  • /
  • World
  • /
  • ExxonMobil: $60 billion Pioneer Deal

ExxonMobil: $60 billion Pioneer Deal

ExxxonMobil Corporation is a multinational oil and gas company with its headquarters in Texas, USA. Founded in 1882 (141 years ago), the energy company was formerly Standard Oil of New Jersey, and through a merger of Exxon and Mobil the new corporation was formed in 1999.

The company’s revenue in 2022 was over one quarter of a trillion US dollars ($412.68 billion USD).

According to CNN, ExxonMobil has agreed to acquire Pioneer Natural Resources in a $60 billion USD deal. Pioneer Natural Resources Company is a 27 year old company that specializes in petroleum and natural gas exploration and production, with their headquarters in Texas, USA.

ExxonMobil claims its production volume in the Permian Basin would more than double to 1.3 million barrels per day once the transaction closes.

Leave a Reply