Exxon's Mega Merger: Pioneer Acquisition Fuels Fossil Fuel Addiction
The Permian oilman who sold Pioneer to Exxon has built a company that rivals the size of Saudi Arabia in terms of oil production. Pioneer Natural Resources, founded by Scott Sheffield, has become one of the largest oil producers in the Permian Basin, with a market value of over $40 billion. Sheffield's success in the oil industry has made him a prominent figure in the sector, and his sale of Pioneer to Exxon further solidified his reputation.