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ExxonMobil completes acquisition of Pioneer Natural Resources to transform its upstream portfolio

ExxonMobil completes acquisition of Pioneer Natural Resources to transform its upstream portfolio

05/03/24, 12:53 PM
Location
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Industry
oil and gas
energy
oil and gas
energy
The acquisition of Pioneer Natural Resources by ExxonMobil has significantly expanded ExxonMobil's Permian footprint, combining Pioneer’s sizeable acreage, entrepreneurial culture, and deep industry expertise with ExxonMobil’s balance-sheet strength, advanced technologies, and industry-leading project development capabilities. This merger is expected to create an Unconventional business with the largest, high-return development potential in the Permian Basin, benefiting ExxonMobil's Permian production volume, environmental impact, and net-zero emissions goals.

Company Info

Company
ExxonMobil
Location
Texas, United States
Company info
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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