Pioneer Natural Resources Denies Report of Acquisition of Range Resources
(Reuters) — Oil and gas explorer Pioneer Natural Resources Co. said on Friday 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.
Related News
Related News
- Trump Aims to Revive 1,200-Mile Keystone XL Pipeline Despite Major Challenges
- Phillips 66 to Shut LA Oil Refinery, Ending Major Gasoline Output Amid Supply Concerns
- Valero Considers All Options, Including Sale, for California Refineries Amid Regulatory Pressure
- U.S. Appeals Court Blocks Kinder Morgan’s Tennessee Pipeline Permits
- ConocoPhillips Eyes Sale of $1 Billion Permian Assets Amid Marathon Acquisition
- U.S. LNG Export Growth Faces Uncertainty as Trump’s Tariff Proposal Looms, Analysts Say
- Tullow Oil on Track to Deliver $600 Million Free Cash Flow Over Next 2 Years
- Alaska Greenlights Enstar’s $57 Million Pipeline to Boost LNG Imports
- U.S. Appeals Court Blocks Kinder Morgan’s Tennessee Pipeline Permits
- New 580-Mile Texas Pipeline Eases Bottlenecks, Boosts Shale Gas and Oil Output
Comments