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Pioneer Natural Resources | 425: Filing under Securities Act Rule 425 of certain prospectuses and communications in connection with business combination transactions

SEC announcement ·  Jan 4 00:00
Summary by Moomoo AI
Pioneer Natural Resources, a leading oil producer in Texas, is undergoing a significant transition as it prepares for a merger with ExxonMobil, expected to be completed in the first half of 2024. Richard Dealy has taken over as the new CEO of Pioneer, succeeding Scott Sheffield, who now serves as a special advisor. Dealy, who has been instrumental in Pioneer's growth and operational efficiency, is focused on continuing the company's strategy and delivering value to shareholders during the merger process. Despite the pending acquisition, Pioneer remains an independent entity, aiming to grow oil production by three to five percent annually. Dealy remains optimistic about the industry's future, anticipating a balanced market with Brent oil prices averaging $80 or above in 2024. The merger, which follows a series of significant mergers in the industry, is subject to regulatory and shareholder approvals. Both ExxonMobil and Pioneer have filed relevant materials with the SEC, including a Form S-4 registration statement, and urge investors to read these documents carefully for more information about the transaction.
Pioneer Natural Resources, a leading oil producer in Texas, is undergoing a significant transition as it prepares for a merger with ExxonMobil, expected to be completed in the first half of 2024. Richard Dealy has taken over as the new CEO of Pioneer, succeeding Scott Sheffield, who now serves as a special advisor. Dealy, who has been instrumental in Pioneer's growth and operational efficiency, is focused on continuing the company's strategy and delivering value to shareholders during the merger process. Despite the pending acquisition, Pioneer remains an independent entity, aiming to grow oil production by three to five percent annually. Dealy remains optimistic about the industry's future, anticipating a balanced market with Brent oil prices averaging $80 or above in 2024. The merger, which follows a series of significant mergers in the industry, is subject to regulatory and shareholder approvals. Both ExxonMobil and Pioneer have filed relevant materials with the SEC, including a Form S-4 registration statement, and urge investors to read these documents carefully for more information about the transaction.
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