Exxon Mobil Corp - Houston-based oil and gas major - Completes acquisition of Pioneer Natural Resources. Says deal transforms ExxonMobil's upstream portfolio by more than doubling the company's Permian footprint. Combines Pioneer's sizeable acreage, entrepreneurial culture and deep industry expertise with ExxonMobil's balance-sheet strength, advanced technologies and industry-leading project development capabilities, company says. "This premier, tier-one asset is a natural fit for our Permian portfolio and gives us a greater opportunity to deploy our technology and deliver operating and capital efficiency for long-term shareholder value," says ExxonMobil Chair & Chief Executive Darren Woods. In October, Exxon Mobil said it would acquire Pioneer Natural Resources Co in an all-stock merger transaction valued at USD59.5 billion, or USD253 per share.

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By Jeremy Cutler, Alliance News reporter

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