tldrdaily.news logo
Tag

Pioneer Natural Resources

All articles tagged with #pioneer natural resources

business1 year ago

ExxonMobil to Cut 400 Jobs Post-Pioneer Merger

ExxonMobil is laying off 397 workers from its recently acquired Pioneer Natural Resources, impacting North Texas' oil and gas sector. The layoffs follow Exxon's $59.5 billion purchase of Pioneer, with most cuts occurring at the Las Colinas office in Irving. Despite offering jobs to over 1,900 Pioneer employees, some declined or were offered transition roles, triggering the layoffs. The separations will occur from December 2024 to May 2026. Exxon's acquisition strengthens its position in the Permian Basin, while former Pioneer CEO Scott Sheffield disputes FTC allegations related to the deal.

via The Dallas Morning News|
#business#exxonmobil#layoffs
finance1 year ago

"Top 5 Bargain S&P 500 Dividend Stocks to Buy Now"

When considering high-yield dividend stocks in the S&P 500, investors should be cautious. Altria's declining cigarette business raises concerns about the sustainability of its dividend, while Pioneer Natural Resources and Devon Energy have variable dividend policies tied to energy prices, making their income streams unreliable. Additionally, Pioneer's pending acquisition by ExxonMobil adds further risk. Not all high-yield stocks are worth owning, and these three may not be attractive options for investors seeking reliable income from their portfolios.

via The Motley Fool|
#altria#devon-energy#dividend-investing
finance1 year ago

"Top 5 Bargain S&P 500 Dividend Stocks to Buy Now"

When considering the highest-paying dividend stocks in the S&P 500, investors should be cautious. Altria's declining cigarette business raises concerns about the sustainability of its high dividend yield, while Pioneer Natural Resources and Devon Energy have variable dividend policies tied to energy prices, making their income streams unreliable. Additionally, Pioneer is in the process of being acquired by ExxonMobil, adding further uncertainty. These factors suggest that these high-yield S&P 500 dividend stocks may not be attractive options for investors seeking stable income.

via Yahoo Finance|
#altria#devon-energy#dividend-stocks
business2 years ago

FTC Probes Exxon's $60B Pioneer Takeover

The U.S. Federal Trade Commission (FTC) has issued a second request for more information regarding the $60 billion takeover deal between ExxonMobil and Pioneer Natural Resources. The companies are cooperating with the FTC and expect the deal to be completed in the first half of 2024. U.S. Senate Majority Leader Charles Schumer and other Democratic senators have expressed concerns about the potential anticompetitive effects of the deal, stating that it could lead to higher gas prices for consumers. Antitrust experts believe that the FTC may struggle to block the merger as it involves producers rather than refiners or retail outlets.

via Reuters|
#antitrust-laws#business#exxonmobil
business2 years ago

"FTC Investigates ExxonMobil's $60B Merger with Pioneer Amid Antitrust Concerns"

U.S. antitrust enforcers are investigating ExxonMobil's plan to acquire Pioneer Natural Resources, CVS Health is implementing a "cost plus" model to increase transparency in drug pricing, and Wells Fargo is preparing for worker layoffs next year, setting aside nearly $1 billion in severance pay for the fourth quarter.

via Greater Baton Rouge Business Report|
#business#cvs-health#drug-prices
business2 years ago

Exxon's $60 Billion Acquisition of Pioneer Natural Resources Boosts Recovery and Cuts Costs

Exxon Mobil has announced its acquisition of Pioneer Natural Resources for $59.5 billion, solidifying its focus on fossil fuel production despite growing concerns about climate change and the industry's resistance to cleaner energy. The deal positions Exxon closer to its Houston base and concentrates its operations in Texas and Guyana, betting that U.S. energy policy will not heavily restrict fossil fuels. Exxon plans to capture carbon dioxide from industrial sites and bury it underground, but the technology is still in early stages. The acquisition makes Exxon the dominant player in the Permian basin, surpassing Chevron, and is expected to significantly increase its oil and gas production.

via The New York Times|
#business#exxon-mobil#fossil-fuels
business2 years ago

Exxon Mobil's $59.5 Billion Deal with Pioneer Natural Signals Fossil Fuel Commitment Amid Price Surge

Exxon Mobil is acquiring Pioneer Natural Resources in an all-stock deal valued at $59.5 billion, solidifying its commitment to fossil fuels as energy prices rise. The deal will create a major fracking operator in West Texas and significantly expand Exxon's presence in the Permian Basin. The combined company will have an estimated Permian resource of 16 billion oil equivalent barrels, with 15 to 20 years of remaining inventory. Exxon's Permian production volume is expected to more than double to 1.3 million barrels of oil equivalent per day by 2023 and climb to about 2 million barrels per day by 2027. The transaction is subject to approval from Pioneer shareholders and is expected to close in the first half of next year.

via ABC News|
#acquisition#business#exxon-mobil
business2 years ago

Exxon Mobil Dominates US Oilfield with $60 Billion Pioneer Acquisition

Exxon Mobil has agreed to acquire U.S. rival Pioneer Natural Resources in an all-stock deal valued at $59.5 billion, making it the largest producer in the largest U.S. oilfield and securing a decade of low-cost production. The deal, set to close in early 2024, combines the largest U.S. oil company with one of the most successful names in the shale revolution. The acquisition will leave four of the largest U.S. oil companies in control of much of the Permian Basin shale field and its infrastructure. Despite facing scrutiny, the companies are likely to complete the deal as they argue that they will account for a small fraction of the global oil and gas market.

via Reuters|
#business#exxon-mobil#oilfield
energy2 years ago

ExxonMobil's Mega Deal: A Bet on Oil's Staying Power

ExxonMobil's potential acquisition of Pioneer Natural Resources for almost $60 billion highlights the consolidation of ExxonMobil's grip on the oil market and the value of the shale oil industry. The article questions why the UK has not developed companies of similar size and success in the shale industry, attributing it to a combination of local protests, environmental objections, and government bans. The author argues that the UK missed a significant opportunity to create a thriving shale industry, which could have generated jobs, tax revenues, and energy security, while diversifying the energy mix with wind and nuclear power.

via The Telegraph|
#energy#exxonmobil#fracking
business2 years ago

ExxonMobil's Pursuit of Mega Merger Targets Energy Giant Devon Energy

Exxon Mobil is reportedly finalizing a deal to acquire Pioneer Natural Resources in a $60 billion deal, signaling an emerging mergers and acquisitions boom in the oil and gas upstream sector. With this trend, attention is turning to Devon Energy as a potential target for acquisition. Despite being one of the worst-performing large-cap oil and gas stocks, Devon Energy's cheap valuation, concentration of assets in desirable locations, and well-defined dividend strategy make it an attractive investment. However, recent insider trading activity suggests that the company is not currently in talks to be acquired.

via Seeking Alpha|
#business#devon-energy#exxon-mobil
business2 years ago

"Stocks on the Rise: Pioneer Natural, Tesla, and More Make Big Moves"

Pioneer Natural Resources stock surged nearly 10% after reports of a potential $60 billion acquisition by Exxon Mobil. Tesla shares dipped as the company reduced prices on some Model 3 and Model Y versions in the U.S., while also reporting lower-than-expected third-quarter deliveries. Levi Strauss saw a 2.5% drop in shares after cutting its full-year sales forecast due to inflation and rising costs. MGM Resorts rose 5% after providing an update on a cybersecurity issue, stating that the impact would likely be minimal. Financial services company Freedom Holding slid 1% amid investigations by federal prosecutors and the SEC over compliance issues.

via CNBC|
#business#cybersecurity#levi-strauss
business2 years ago

Exxon's Potential Mega-Merger with Pioneer Sends Shares Soaring

Shares of Pioneer Natural Resources surged nearly 11% after news broke that Exxon Mobil was in advanced talks to acquire the shale producer in a deal valued at $60 billion. If successful, the deal would be Exxon's largest acquisition since 1998 and would make the company one of the leading producers in the lucrative Permian basin. While the premium offered to Pioneer is in line with other mergers in the sector, some analysts believe it may be slightly low given Pioneer's unique scale and quality of inventory. The negotiations could face political and regulatory scrutiny, but industry experts see this potential deal as the beginning of a massive consolidation in the oil and gas industry.

via Reuters|
#acquisition#business#exxon-mobil
business2 years ago

"Stocks Soar and Plummet in Pre-market Trading: Pioneer Natural Resources, Levi Strauss, Tesla, Philips, and More"

Pioneer Natural Resources stock surged nearly 10% in premarket trading after reports of a potential $60 billion deal with Exxon Mobil. Levi Strauss shares dropped 1.3% after cutting its full-year sales forecast due to inflation and rising costs. Philips shares fell over 8.7% following the FDA's criticism of its handling of a sleep apnea device recall. Tesla shares declined over 1% after the company reduced prices on some Model 3 and Model Y vehicles. Apellis Pharmaceuticals saw a 5.5% increase in its stock price after reporting growing sales for its Syfovre drug.

via CNBC|
#apellis-pharmaceuticals#business#levi-strauss