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ExxonMobil's $60 billion deal to acquire Pioneer Natural Resources is a major signal of 'extreme consolidation' in the oil industry. Texas oilman Scott Sheffield, CEO of Pioneer, strategically positioned his company to become the top player in the US shale basin, attracting the attention of oil majors. The deal marks the culmination of Sheffield's four-year plan and underscores the aggressive moves by oil companies to secure their positions in the shale market. This acquisition is expected to have a significant impact on oil prices and sets the stage for further consolidation in the industry.
Four years ago, Texas oilman Scott Sheffield saw the oil majors were moving aggressively into the top US shale basin and plotted to make his then-$24 billion Pioneer Natural Resources the oilfield's biggest prize. On Oct. 11, the mission paid off https://t.co/IDC0DrH05f
Four years ago, Texas oilman Scott Sheffield saw the oil majors were moving aggressively into the top US shale basin and plotted to make his then-$24 billion Pioneer Natural Resources the oilfield's biggest prize. On Oct. 11, the mission paid off https://t.co/o0vZJhI1dL
As oil majors cast shale nets, Texas oilman Sheffield made Pioneer the prized catch https://t.co/Iiv5rW9n5p https://t.co/Hiww2PsWPq
⚠️ AS OIL MAJORS CAST SHALE NETS, TEXAS OILMAN SHEFFIELD MADE PIONEER THE PRIZED CATCH Full Story → https://t.co/yg2D69P3KO
ExxonMobil's $60 billion Pioneer deal signals era of 'extreme consolidation' for oil industry https://t.co/v5YJUEqtYr by @ines_ferre
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