Forbes Story: ExxonMobil/Pioneer Merger Could Finally Become Reality [Updated With Enverus Commentary]

Exxon Mobil Corporations Chairman and CEO Darren Woods speaks during a press conference and signing ceremony with Qatar's Minister of State for Energy Affairs and President and CEO of QatarEnergy at QatarEnergy headquarters in Doha, on June 21, 2022. (Photo by KARIM JAAFAR / AFP) (Photo by KARIM JAAFAR/AFP via Getty Images)

[Note: This story is also published at Forbes.com]

In a story that should surprise no one, the Wall Street Journal and others are reporting that the long-anticipated deal between U.S. energy giant ExxonMobilXOM and Permian Basin titan Pioneer Natural ResourcesPXD could finally be upon us.

Rumors about a possible deal between the two companies have circulated off and on since at least 2017, and heated up again this past April. But, as with so many times before, the rumors soon cooled down when no deal was consummated. Perhaps this time will be different, but only time will tell.

As of close of business Thursday, Pioneer boasted a market cap of more than $50 billion, meaning it would become Exxon’s biggest acquisition since its $81 billion merger with Mobil Oil Company in 1998. If completed, this deal would easily surpass ExxonMobil’s $41 billion buyout of Fort Worth-based independent XTO Energy in 2009.