Pioneer Surges 6% After Informal Exxon Talks ...Middle East

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Pioneer Surges 6% After Informal Exxon Talks
source : OILPRICE ( Middle East ) () 49
Pioneer Natural Resources (NYSE:PXD) shares have gained 6% so far on Monday following news reports that ExxonMobil is considering an acquisition of the pure-play shale producer in the Permian basin. At 1:09 p.m. EST, Pioneer stock was trading up 6.13%, to $220.93, for a gain of over $12.77 on the day.  On Friday, the Wall Street Journal broke a story citing unnamed sources close to the matter as saying that Exxon had held early informal talks about acquiring Pioneer as it seeks to increase its footprint in the U.S. shale patch.  Such…

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