(AOF) – Oil and gas company Exxon Mobil is reportedly in advanced discussions to acquire Pioneer Natural Resources in a deal that could value the shale oil and gas producer at around $60 billion ($56.93 billion). euros), according to information reported to Reuters which cites sources close to the matter. This would be Exxon’s largest acquisition since its $81 billion purchase of Mobil in 1998. A deal between Exxon and Pioneer could be reached soon.
Pioneer, whose stock market value stood at $50 billion on Thursday, is the third largest oil producer in the Permian Basin behind Chevron and ConocoPhillips.
The transaction would allow Exxon to expand its presence in the Permian Basin in the southern United States.
AOF – LEARN MORE
Find out more about the “oil and oil services” sector
Biogas to green activities
Obtained through the decomposition of waste, it falls into the category of green energy. It is part of the strategy of many countries, particularly in Europe, to reduce their dependence on hydrocarbon imports. Oil groups have strong ambitions in the field, as two recent operations reveal. The British BP took over the American Archaea Energy for 4.1 billion dollars. Then, the Anglo-Dutch Shell announced the acquisition of the Danish Nature Energy for $2 billion. These operations display high valuation levels, highlighting the strong potential of the sector. TotalEnergies had already taken a stake in the American Clean Energy Fuels Corp in 2018, of which it now holds 19%. It recently joined forces with Veolia to recover biomethane from waste treatment facilities.