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ExxonMobil and Pioneer Natural Resources logos are seen in this illustration taken, October 8, 2023. REUTERS/Dado Ruvic/Illustration/File Photo Acquire Licensing Rights
Oct 10 (Reuters) – Top U.S. oil producer Exxon Mobil (XOM.N) is in talks to pay more than $250 per share for Pioneer Natural Resources Co (PXD.N), Bloomberg News reported on Tuesday.
An all-stock deal could be announced as soon as Wednesday, according to the report, citing people familiar with the matter, adding that a final agreement hasn’t been reached and the terms could change or talks could still end without a deal.
Pioneer and Exxon did not immediately respond to a Reuters request for comment.
Pioneer, which closed at $237.41 on Tuesday at a market valuation of about $55.35 billion, is the third-largest oil producer in the Permian basin after Chevron Corp (CVX.N) and ConocoPhillips (COP.N).
Reporting by Shubhendu Deshmukh in Bengaluru; Editing by Rashmi Aich
Our Standards: The Thomson Reuters Trust Principles.
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