ExxonMobil Nears $60 Billion Deal to Acquire Pioneer Natural Resources

ExxonMobil is in advanced talks to acquire Pioneer Natural Resources in a potentially $60 billion deal, marking Exxon's significant move into the Permian basin-focused shale oil production.

Exxon Mobil (XOM) reportedly is near a deal to buy Pioneer Natural Resources (PXD) for roughly $60 billion.

Exxon could seal a deal for shale drilling pioneer Pioneer in days, The Wall Street Journal reported Thursday night, assuming last-minute talks don't hit a roadblock.

A deal would give Exxon Mobil a massive presence in the oil-rich Permian Basin.

Exxon Mobil was in early talks for Pioneer Natural Resources in April, the Journal reported at the time. PXD stock popped 4.5% on April 10 on that report.

Pioneer Natural Resources stock closed Thursday with a $50.1 billion market cap. Exxon stock has a $436 billion valuation.

In premarket trading Friday, PXD stock leapt nearly 10%. On Thursday, Pioneer Natural edged down 0.2% to 214.96.

XOM stock retreated nearly 3%. On Thursday, shares fell 2.25% to 108.89, closing below their 200-day line a day after knifing through the 50-day. Exxon stock broke out on Sept. 27, clearing a 118.84 buy point, but has sold off since.

U.S. crude oil prices slumped 2.3% to $82.31 a barrel on Thursday. Oil futures edged lower early Friday.

Please follow Ed Carson on X/Twitter at @IBD_ECarson and Threads at @edcarson1971 for stock market updates and more.

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