The chapter discusses the reasons behind the agreement to combine Exxon Mobil and Pioneer Natural Resources, highlighting the benefits of the technological advancements and integration downstream. It also discusses the nature of the deal and Exxon's previous struggles with acquisitions in the Permian Basin. The chapter concludes with a discussion on potential issues and the impact of oil price moves on the deal.
Bloomberg Commodities Edge Anchor Alix Steel and Bloomberg Intelligence Senior Oil & Gas Analyst Fernando Valle break down Exxon agreeing to buy Pioneer Natural Resources for $59.5 billion as it seeks to become the dominant producer of shale oil. Andy Marsh, CEO of Plug Power, discusses building an end-to-end green hydrogen ecosystem. Hayley Berg, Economist at Hopper, shares the travel app's insight on holiday travel. And we Drive to the Close with Jim Gold, Co-Founder and Chief Executive Officer at Steward Partners.
Hosts: Jess Menton and Molly Smith. Producer: Paul Brennan.
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