Exxon Mobil (XOM) reportedly is near a deal to buy Pioneer Natural Resources (PXD) for roughly $60 billion. XOM stock fell slightly Friday while PXD stock leapt.


Exxon could seal a deal for shale drilling pioneer Pioneer in days, The Wall Street Journal reported Thursday night, assuming last-minute talks don’t hit a roadblock.

A deal would give Exxon Mobil a massive presence in the oil-rich Permian Basin.

Exxon Mobil was in early talks for Pioneer Natural Resources in April, the Journal reported at the time. PXD stock popped 4.5% on April 10 on that report.

Pioneer Natural Resources stock closed Thursday with a $50.1 billion market cap. Exxon stock has a $436 billion valuation.

Friday afternoon, PXD stock leapt 11% to 238.67. On Thursday, Pioneer Natural edged down 0.2%.

XOM stock retreated 1.35% to 107.52 on Friday, but well off morning lows. On Thursday, shares fell 2.25%, closing below their 200-day line a day after knifing through the 50-day. Exxon stock broke out on Sept. 27, clearing a 118.84 buy point, but has sold off since.

U.S. crude oil prices futures rose slightly Friday, but have tumbled over the several days on demand concerns.

Please follow Ed Carson on X/Twitter at @IBD_ECarson and Threads at @edcarson1971 for stock market updates and more.


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