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ExxonMobil acquires Pioneer Natural Resources for $60B

PUBLIC · XOMSep 27, 2026

Acquiring Company

ExxonMobil

Acquired Company

Pioneer Natural Resources

TexasIrvingEnergyOil And GasRenewable EnergyEnergyOil And Gas

Description

ExxonMobil has completed a $60 billion acquisition of Pioneer Natural Resources. This acquisition marks Exxon's largest takeover since merging with Mobil in 1999. Despite facing FTC scrutiny, the deal proceeded with conditions regarding board appointments. Scott Sheffield, Pioneer’s founder, expressed concerns over alleged unethical actions taken by Exxon's leadership.

Company Information

Company

ExxonMobil

Location

Texas, United States

About

ExxonMobil, one of the largest publicly traded international energy and petrochemical companies, creates solutions that improve quality of life and meet society’s evolving needs. The corporation’s primary businesses – Upstream, Product Solutions and Low Carbon Solutions – provide products that enable modern life, including energy, chemicals, lubricants, and lower-emissions technologies and services. ExxonMobil holds an industry-leading portfolio of resources, and is one of the largest integrated fuels, lubricants and chemical companies in the world. In 2021, ExxonMobil announced Scope 1 and 2 greenhouse gas emission-reduction plans for 2030 for operated assets, compared to 2016 levels. The plans are to achieve a 20-30% reduction in corporate-wide greenhouse gas intensity; a 40-50% reduction in greenhouse gas intensity of upstream operations; a 70-80% reduction in corporate-wide methane intensity; and a 60-70% reduction in corporate-wide flaring intensity. With advancements in technology and the support of clear and consistent government policies, ExxonMobil aims to achieve net-zero Scope 1 and 2 greenhouse gas emissions from its operated assets by 2050. To learn more, visit exxonmobil.com, the Energy Factor, and ExxonMobil’s Advancing Climate Solutions. Follow us on Twitter and LinkedIn.

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Frequently asked

Who acquired Pioneer Natural Resources?

Pioneer Natural Resources was acquired by ExxonMobil, based in Texas. The deal was reported on September 27, 2026. ExxonMobil, one of the largest publicly traded international energy and petrochemical companies, creates solutions that improve quality of life and meet society’s evolving needs. ExxonMobil is publicly traded (XOM) and operates in Energy.

When did ExxonMobil acquire Pioneer Natural Resources?

ExxonMobil's acquisition of Pioneer Natural Resources was reported on September 27, 2026. ExxonMobil has completed a $60 billion acquisition of Pioneer Natural Resources. This acquisition marks Exxon's largest takeover since merging with Mobil in 1999. Despite facing FTC scrutiny, the deal proceeded with conditions regarding board appointments. Fundz records the date the transaction was first publicly reported, sourced from filings and company announcements.

What does Pioneer Natural Resources do?

Pioneer is a large independent oil and gas exploration and production company, headquartered in Dallas, Texas, with operations in the United States. For more information, visit www.pxd.com. It is privately held, operating in Energy, and is based in Irving.

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