{"id":610278,"date":"2023-10-13T10:16:01","date_gmt":"2023-10-13T04:46:01","guid":{"rendered":"https:\/\/infralive.com\/web\/?p=610278"},"modified":"2023-10-13T12:09:21","modified_gmt":"2023-10-13T06:39:21","slug":"explained-how-stars-aligned-for-exxons-60-billion-deal-with-pioneer","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/explained-how-stars-aligned-for-exxons-60-billion-deal-with-pioneer\/","title":{"rendered":"Explained | How stars aligned for Exxon&#8217;s $60 billion deal with Pioneer"},"content":{"rendered":"<p>Exxon Mobil Corp&#8217;s resurgence under CEO Darren Woods and the upcoming retirement of Pioneer Natural Resources CEO Scott Sheffield were key to the oil major clinching the $60 billion acquisition, people familiar with the matter said.<\/p>\n<p>After brief informal conversations earlier this year, Exxon approached Pioneer about a deal last month, the sources said. It was from a position of strength. Exxon&#8217;s shares were hovering near record highs, and it had a cash pile of about $30 billion.<\/p>\n<p>Sheffield said he was approached by Woods two weeks ago with an offer that was beneficial both to shareholders and Pioneer&#8217;s employees. The Permian operations will be led by a mix of staff from both companies.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Exxon Mobil Corp&#8217;s resurgence under CEO Darren Woods and the upcoming retirement of Pioneer Natural Resources CEO Scott Sheffield were key to the oil major clinching the $60 billion acquisition, people familiar with the matter said. After brief informal conversations earlier this year, Exxon approached Pioneer about a deal last month, the sources said. It was from a position of strength. Exxon&#8217;s shares were hovering near record highs, and it had a cash pile of about $30 billion. Sheffield said he was approached by Woods two weeks ago with an offer that was beneficial both to shareholders and Pioneer&#8217;s employees. [&hellip;]<\/p>\n","protected":false},"author":40,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[146,130,177],"tags":[],"class_list":["post-610278","post","type-post","status-publish","format-standard","hentry","category-deccan-herald-newspapers","category-newspapers","category-oil-gas-deccan-herald-newspapers"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/610278","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/users\/40"}],"replies":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/comments?post=610278"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/610278\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=610278"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=610278"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=610278"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}