Pioneer ExxonMobil’s deal

[4WD]

https://www.reuters.com/markets/dea...-per-share-pioneer-bloomberg-news-2023-10-11/

 

[GON]

https://www.reuters.com/markets/dea...-per-share-pioneer-bloomberg-news-2023-10-11/

Is this good for an increase in domestic and worldwide oil production? Or is it one less competitor in an industry that already has many barriers to entry?

 

[jws555]

Is this good for an increase in domestic and worldwide oil production? Or is it one less competitor in an industry that already has many barriers to entry?

Yes.

Regards,
John

 

[4WD]

Is this good for an increase in domestic and worldwide oil production? Or is it one less competitor in an industry that already has many barriers to entry?

Well … Independent where the CEO is 67 and worth a couple hundred million - He will get some nice retainer for the transition period and so on

 

[fantastic]

This is simply a profit deal for Exxon for more low cost oil drilling (Shale) land area. "Averaging $10.50 a barrel". ExxonMobil sells worldwide so forget a "country first" approach b/c it's "Profits first" for any oil company.

 

[BMWTurboDzl]

This is simply a profit deal for Exxon for more low cost oil drilling (Shale) land area. "Averaging $10.50 a barrel". ExxonMobil sells worldwide so forget a "country first" approach b/c it's "Profits first" for any oil company.

That's not how markets work but whatever.

 

[4WD]

That's not how markets work but whatever.

Yeah - and M&A’s generally mean do more with less …
But in this market - bet that reduction will happen slowly …

 

[fantastic]

That's not how markets work but whatever.

What part doesn't work?

 

[BMWTurboDzl]

What part doesn't work?

Your "country first comment". A well functioning markets is borderless. Shortages and/or high prices occur when markets are closed

 

[fantastic]

Your "country first comment". A well functioning markets is borderless. Shortages and/or high prices occur when markets are closed

I think you're misunderstanding my position. I was stating to others that think this purchase was just for the benefit of the US market. I understand that oil markets are worldwide but some do not. That's my intention in my post. Not that I am saying oil markets work in a "country first" way. I already knew that.

 

[4WD]

I think you're misunderstanding my position. I was stating to others that think this purchase was just for the benefit of the US market. I understand that oil markets are worldwide but some do not. That's my intention in my post. Not that I am saying oil markets work in a "country first" way. I already knew that.

It’s both - XOM also uses its flowstream for more obvious products - but, they are even making plastics with domestic gas …

 

[goingplacesanddoingstuff]

Is this good for an increase in domestic and worldwide oil production? Or is it one less competitor in an industry that already has many barriers to entry?

It’s likely neutral for production. Consolidation is not necessarily a good thing, overall.

 

[4WD]

It’s likely neutral for production. Consolidation is not necessarily a good thing, overall.

They are forecasting production growth … massive combined acreage position …

 

[goingplacesanddoingstuff]

They are forecasting production growth … massive combined acreage position …

Do you mean production growth for Exxon?

 

[4WD]

Do you mean production growth for Exxon?

Yeah … Pioneer was pressed (something we can’t talk about) a couple years back to increase volumes - they went on record saying nope - only 5% growth plan and needed no additional acreage …
In the same period XOM targeted higher growth …