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XOM May 2024 126.000 put
| Previous close | 7.80 |
| Open | 7.80 |
| Bid | 8.90 |
| Ask | 12.90 |
| Strike | 126.00 |
| Expiry date | 2024-05-31 |
| Day's range | 7.80 - 7.80 |
| Contract range | N/A |
| Volume | |
| Open interest | 10 |
ReutersExxon to take 18-24 months to hit full stride with Pioneer purchase
HOUSTON (Reuters) -Exxon Mobil will take 18 to 24 months to achieve its full production synergies from its $60 billion purchase of U.S. shale oil producer Pioneer Natural Resources, the company's top shale executive said on Friday. Exxon this week closed all-stock acquisition after agreeing to an antitrust consent order that barred the former Pioneer CEO from joining its board and is moving in coming weeks to combine operations that will form the largest oil producer in the Permian basin. "You will see (oil production) grow pretty rapidly, year over year," said Bart Cahir, Exxon's senior vice president of shale, as Exxon applies its current growth strategy to the resources incorporated from Pioneer.
Barrons.comDon’t Let the FTC Drama Distract You. Exxon Mobil Just Got a Huge Win.
The Federal Trade Commission made headlines this week when it barred a well-known Texas oil executive from joining Exxon Mobil board, as a condition of the oil major’s purchase of Pioneer Natural Resources. The buzzy news around the deal was the FTC’s allegation that former Pioneer CEO Scott Sheffield had tried to convince other oil producers to slow production and boost prices. Sheffield declined to comment, but Pioneer disputed the FTC’s claims about collusion, saying the commission has a “fundamental misunderstanding of the U.S. and global oil markets.”
- Reuters SG
Deals of the day-Mergers and acquisitions
** Sony Pictures Entertainment and private equity firm Apollo Global Management on Wednesday submitted a $26 billion offer for Paramount Global but have yet to receive a response as of Friday, according to a person familiar with the matter. ** L Catterton, a private equity firm backed by French luxury group LVMH , said on Friday it had succeeded in securing enough shares in luxury shoe maker Tod's to take it private in agreement with the Italian group's main shareholder, the Della Valle family.
