As per preliminary estimates, the production will likely touch around 2 MBOED by 2027.
SEATTLE (Oil Monster): ExxonMobil announced that it has officially completed its acquisition of Pioneer Natural Resources Company. The announcement to this effect was made on 3rd May, 2024.
ALSO READ:
ExxonMobil to Temporarily Shut Guyana Oil Project
ExxonMobil, PETRONAS Signed LoA to Explore Natural Gas Discovery Offshore Suriname
The combined entity boasts a collective ownership of over 1.4 million net acres in the Delaware and Midland basins. It is estimated to hold estimated resources of approximately 16 billion barrels of oil equivalent. The company’s Permian output is set to more than double, touching 1.3 million barrels of oil equivalent per day (MBOED). As per preliminary estimates, the production will likely touch around 2 MBOED by 2027.
The transaction will bring together the distinct Permian basin and basin expertise of Pioneer and ExxonMobil’s exclusive technologies. The collaboration will deliver enhanced resource efficiency causing significantly reduced environmental impact.
Commenting on the development, Darren Woods, Chairman and CEO, ExxonMobil said that the acquired top-tier asset complements the company’s Permian asset portfolio. The integration of the two entities will significantly enhance the nation’s energy security and economy. Furthermore, it will accelerate Pioneer’s net zero target by 15 years from 2050 to 2035, Woods added.
United States Crude Oil Prices | |||
---|---|---|---|
COMMODITY | PRICE | CHANGE | |
Alabama Heavy Asphaltic Sour | 61.97 | +0.54 | |
Alabama Light Sour | 68.86 | +0.61 | |
Alabama Light Sour Womack Hill Type | 55.28 | +5.30 | |
Alabama Light Sweet | 73.86 | +0.61 | |
Alabama/ Florida Panhandle | 72.42 | +0.60 |
Plastic Keychain Magnet
Keychain Magnets as gift items to promote your Scrap Metal Recycling business!. Letters and numbers can be imprinted. Available Colors: Red, Blue and Green
$2.59
Scrap Metal Test Magnet 10 lb N52 Neodymium Rare Earth
Retrieval and Metal Testing Magnet. Contains The Most Powerful Grade of Neodymium Rare Earth Magnet (N52). Case Material: Aluminum
$9.99