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U.S. oil and natural gas companies are circling each other for potential match ups to keep investor returns growing as the nation’s prolific shale fields age.
In a time where numerous things could dampen demand, prices, profits, and valuations the energy industry continues an upward trend.
With a $60 billion acquisition of Pioneer Natural Resources, Exxon plans to deploy its fine-tuned Delaware Basin drilling strategy into the heart of the Midland Basin, executives say.
Pickering forecasts oil around $80/bbl through 2027 and calls $75/bbl-$90/bbl the current sweet spot for pricing.
Exxon Mobil Corp. agreed to buy Pioneer Natural Resources Co. for $59.5 billion.