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Pioneer Natural Resources Company (NYSE:PXD) has announced the acquisition of Parsley Energy, Inc. (NYSE:PE) in an all-stock transaction valued at approximately $4.5 billion, with a total deal value of around $7.6 billion when including debt. The acquisition aims to create a leading independent energy firm in the Permian Basin, enhancing operational efficiencies and expected annual synergies of $325 million. The transaction is set to close in Q1 2021, pending regulatory and shareholder approvals, and will see Pioneer shareholders owning 76% of the combined company.
Pioneer Natural Resources Company (NYSE:PXD) will release its third quarter 2020 earnings after market close on November 4, 2020. A conference call to discuss these results is scheduled for November 5, 2020, at 9:00 a.m. CT. Participants can access the call through telephone dial-in or via the company's website. A replay of the conference will be available until December 1, 2020. This earnings report marks a critical update for investors, reflecting the company’s performance in an evolving oil and gas market.
Pioneer Natural Resources Company (NYSE:PXD) announced key management changes effective January 1, 2021, aimed at enhancing long-term shareholder value. Richard Dealy is promoted to President and COO, while Neal Shah becomes Senior VP and CFO. Elizabeth McDonald is appointed Senior VP for Strategic Planning and Marketing. CEO Scott Sheffield emphasized that these changes align with the company’s evolving business strategy focused on strong returns and low leverage, designed to drive shareholder value. Pioneer's operational and financial standing remains robust as it continues to supply energy adhering to high environmental standards.