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ExxonMobil has completed the acquisition of Pioneer Natural Resources, transforming its upstream portfolio by doubling its Permian footprint. The merger combines Pioneer's acreage and expertise with ExxonMobil's technologies and project development capabilities. The companies aim to achieve double-digit returns, increase production volume, and transition to net-zero emissions by 2035.
Pioneer Natural Resources, listed on NYSE under PXD, responds to FTC settlement complaint in relation to its proposed merger with ExxonMobil. The company disagrees with the FTC's allegations directed at Mr. Sheffield, but is not taking steps to block the merger. Mr. Sheffield's career focus has been on the interests of investors, employees, and the U.S. energy industry. He believes the FTC misunderstands the oil markets and his actions. Pioneer has doubled its daily production from 346,000 to 715,000 barrels of oil equivalent from 2019 to 2023, contributing significantly to U.S. energy supplies.
Imperial Oil (TSE: IMO, NYSE American: IMO) announced the successful election of all seven director nominees at its annual meeting of shareholders. With 488,715,570 shares represented, each director received overwhelming support from shareholders. The company reaffirmed its position as a pioneer in technological innovation within Canada's energy sector.
Imperial announced the appointment of Cheryl Gomez-Smith as Senior Vice President, Upstream, effective May 1, 2024, succeeding Simon Younger. Younger has been appointed Lead Country Manager and General Manager Australia Conventional, ExxonMobil Upstream. Cheryl Gomez-Smith brings extensive global experience and expertise to the role, focusing on operational performance, production growth, and cost reduction.