ExxonMobil $59.5 billion acquisition of Pioneer Natural Resources
2023-10-10

ExxonMobil, the world's largest oil and gas producer, announced that it will acquire Pioneer Natural Resources in an all-stock deal valued at $59.5 billion. The transaction, which is subject to customary regulatory reviews and approvals, is expected to close in the first half of 2024.

The transaction is the largest globally in 2023, and the largest by ExxonMobil since its acquisition of Mobil in 1999.

Citi acted as lead financial advisor, Centerview Partners as financial advisor, and Davis Polk & Wardwell as legal advisor to ExxonMobil. Goldman Sachs, Morgan Stanley, Petrie Partners and Bank of America Securities acted as financial advisors to Pioneer; Gibson,  Dunn & Crutcher LLP acted as legal advisor to Pioneer.

 

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