Divestitures and acquisitions

Pioneer has been involved in many acquisitions in widely-publicized deals occasionally totaling to over one billion dollars. Examples include the 2004 acquisition of Evergreen Resources for $2.1 billion, the 2021 acquisitions of Parsley Energy for $4.5 billion and DoublePoint Energy for $6.4 billion, and the smaller acquisition of Carmuse Industrial Sands in 2012 for $297 million.^{[10][11][12][13]}

Acquisition by ExxonMobil

In April 2023, Pioneer itself became the subject of acquisitions when the energy giant ExxonMobil expressed interest in acquiring Pioneer. If the deal ultimately proceeds, ExxonMobil would become the largest producer of shale gas in the Permian Basin, incentivizing further consolidation of the shale gas industry in the United States. Upon the news breaking, other shale gas firms, such as Diamondback Energy and Devon Energy experienced surges in their stock price.^[23]

ExxonMobil announced their intent to acquire Pioneer in a all-stock deal for $59.5 billion on October 11, 2023.^[24] The deal would be the largest in the energy industry in nearly 20 years.^[25]

Antitrust lawsuit

In January 2024, a class action lawsuit was filed by drivers in three US states accusing Pioneer, along with seven other oil and gas producers, of an illegal price-fixing scheme to constrain production of shale oil that led to American drivers paying more for gasoline than they would have in a competitive market.^[26][27]