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Oil and gas explorer Pioneer Natural Resources said on Feb. 24 that it was not pursuing any business combinations, after Bloomberg News reported that the oil and gas explorer was considering an acquisition of smaller U.S. rival Range Resources Corp.
"The company is not contemplating a significant business combination or other acquisition transaction," Pioneer said in a statement.
Bloomberg, citing sources familiar with the matter, had reported that deliberations were ongoing, though there was no certainty the companies would reach an agreement. Bloomberg said that Texas-based Pioneer was seeking further consolidation in the shale industry with the deal.
Range Resources did not immediately respond to a Reuters request for comment.
2024-01-11 - Galp Energia said a significant light oil discovery was made in the Orange Basin and a drill stem test will be performed to assess the discovery’s commercial viability
2024-01-02 - With Petrobras’ Mero-2 coming online, the Mero field is expected to reach a production capacity of over 410,000 bbl/d of oil.
2023-12-22 - Talos Energy said it was the apparent high bidder on 13 blocks in Lease Sale 261 and had executed lease exchange agreements with BP, Chevron and Hess Corp.
2024-01-25 - CNOOC Ltd. plans on $17.5B capex in 2024, with 63% of that dedicated to project development.
2024-01-03 - Talos Energy’s discoveries are subsea tiebacks to the Ram Powel TLP in the Viosca Knoll area of the Gulf of Mexico.