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home / news releases / PXD - Pioneer Natural Resources in talks to buy Parsley Energy - WSJ

PXD - Pioneer Natural Resources in talks to buy Parsley Energy - WSJ

Pioneer Natural Resources Company
Pioneer Natural Resources (PXD) is in talks to acquire Parsley Energy (PE), WSJ reports, a deal which would add to its position as one of the largest oil producers in the Permian Basin.The shale producers are discussing an all-stock deal that could be completed by the end of the month, according to the report.The connections between the two companies are striking: Pioneer CEO Scott Sheffield is the father of Parsley co-founder and chairman Bryan Sheffield, and Parsley's current CEO Matt Gallagher joined the company more than a decade ago from Pioneer.A wave of consolidation is taking hold in the beleaguered oil patch; ConocoPhillips today announced a $9.7B takeover of Concho Resources, which came just a few weeks after Devon Energy snapped up WPX Energy for $2.6B.

For further details see:

Pioneer Natural Resources in talks to buy Parsley Energy - WSJ
Stock Information
Company Name: Pioneer Natural Resources Company
Stock Symbol: PXD
Market: NYSE
Website: pxd.com
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