Placed on the 2023 pedestal, this deal overshadows its predecessors. Notably, the $61 billion deal of Broadcom aiming to capture VMware in May 2022 and Microsoft’s ambitious $69 billion gambit for Activision Blizzard in January 2022 – both having undergone intense regulatory probes.
Permian Basin: The Glittering Jewel
The Permian Basin, ExxonMobil’s treasure trove, contributed a staggering 50% to its 2022 net U.S. oil and gas production. A 20% surge saw the production magnify to over 550,000 oil-equivalent barrels daily, reflecting ExxonMobil’s growing stronghold.
Following its breadcrumbs, ExxonMobil, earlier in July, had clinched Denbury Inc. for a cool $4.9 billion. This strategic move unlocked doors to a maestro in carbon capture, utilization, and storage solutions.
ExxonMobil Pays $60B Deal : A Mosaic of Billion-Dollar Purchases
Whispers of ExxonMobil’s eyes on Pioneer, boasting a near $50 billion market stature, were first caught by The Wall Street Journal’s radar in April. To weave the backstory, Pioneer, in April 2021, had integrated DoublePoint Energy for $6.4 billion and later, in October 2020, annexed Parsley Energy for $4.5 billion.
