Exxon is in talks to acquire Pioneer Natural Resources in a deal that could be worth up to $60 billion, the Wall Street Journal has reported, citing unnamed sources. This would be the biggest deal for Exxon since the merger with Mobil back in the 1990s and would make the supermajor the dominant producer in the Permian. Pioneer, according to the report, has a market cap of about $50 billion. Exxon, for its part, has a market cap of $436 billion and a lot of cash to spend on industry consolidation after the record-breaking 2022. Reuters also cited…
