12 Oct, 23

Shale Consolidation Could Put A Permanent Lid On Oil Output

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Back in April, the Wall Street Journal reported Exxon was interested in acquiring Pioneer Natural Resources. The company is the biggest independent producer in the Permian and an acquisition was the most logical path to growth there after the record year that Exxon, like the rest of the industry, had in 2022. The information re-emerged this month when the WSJ wrote the two were negotiating the deal, which could end up being worth $60 billion. And it would change the face of shale. The oil price surge last year left supermajors…

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