Pioneer Natural Resources
Pioneer Natural Resources Company, headquartered in Irving, Texas, is engaged in hydrocarbon exploration. It operates in the Cline Shale, which is part of the Spraberry Trend of the Permian Basin, where the company is the largest acreage holder. Pioneer is presently undergoing an acquisition by ExxonMobil, which in October 2023 agreed to acquire the company in the largest merger in the energy industry in 20 years; closing is expected in the first half of 2024. The company is ranked 164th on the Fortune 500. As of December 31, 2022, the company had  of proved reserves, of which 41% was petroleum, 23% was natural gas liquids, and 28% was natural gas. In 2022, the company produced  per day, of which 58% was petroleum, 23% was natural gas liquids, and 19% was natural gas. History
Pioneer Natural Resources was created in 1997 by the merger of Parker & Parsley Petroleum Company and MESA Inc., owned by T. Boone Pickens. In May 2016, CEO and chairman Scott D. Sheffield was succeeded by Timothy Dove. Sheffield returned to the roles in 2019 after Dove's retirement. 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. 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. ExxonMobil announced their intent to acquire Pioneer in a all-stock deal for $59.5 billion on October 11, 2023. The deal would be the largest in the energy industry in nearly 20 years. References

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1997 establishments in Texas
Companies based in Irving, Texas
Companies listed on the New York Stock Exchange
Energy companies established in 1997
Non-renewable resource companies established in 1997
Oil companies of the United States
Announced mergers and acquisitions