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Exxon Mobil (XOM) reportedly is close to a deal to purchase Pioneer Pure Sources (PXD) for roughly $60 billion.
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Exxon might seal a deal for shale drilling pioneer Pioneer in days, The Wall Road Journal reported Thursday night time, assuming last-minute talks do not hit a roadblock.
A deal would give Exxon Mobil an enormous presence within the oil-rich Permian Basin.
Exxon Mobil was in early talks for Pioneer Pure Sources in April, the Journal reported on the time. PXD inventory popped 4.5% on April 10 on that report.
Pioneer Pure Sources inventory closed Thursday with a $50.1 billion market cap. Exxon inventory has a $436 billion valuation.
In premarket buying and selling Friday, PXD inventory leapt greater than 10%. On Thursday, Pioneer Pure edged down 0.2% to 214.96.
XOM inventory retreated lower than 2%. On Thursday, shares fell 2.25% to 108.89, closing under their 200-day line a day after knifing by the 50-day. Exxon inventory broke out on Sept. 27, clearing a 118.84 purchase level, however has bought off since.
U.S. crude oil costs slumped 2.3% to $82.31 a barrel on Thursday.
Please comply with Ed Carson on X/Twitter at @IBD_ECarson and Threads at @edcarson1971 for inventory market updates and extra.
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