Exxon Mobil, Pioneer rumors spark fracking M&A talk

Exxon Mobil is reportedly in preliminary discussions to acquire Pioneer Natural Resources as part of the company’s Permian Basin strategy, analysts say.

Based in Irving, Texas, Pioneer is a hydrocarbon exploration company with a market capitalization of around $52 billion and is the third-largest oil producer behind Chevron Corp and ConocoPhillips in the basin, according to Refin