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Exxon Mobil (NYSE:XOM) has held preliminary, informal talks with Pioneer Natural Resources (NYSE:PXD) about a possible acquisition, The Wall Street Journal reported Friday.
Exxon (XOM) also has discussed a potential tie-up with at least one other company, as it seeks a blockbuster deal in the shale patch, according to the report.
Shares of Permian Basin powerhouse driller Pioneer (PXD) have fallen nearly 9% so far this year, giving it a $49B market cap.
“The party is over” for Exxon Mobil (XOM), whose shares have “very little chance of significant capital appreciation at present,” David Alton Clark writes in an analysis newly published on Seeking Alpha.
