In the Media: Colleen Jarrott Discusses ExxonMobil’s $60-Billion Agreement to Buy Pioneer Natural Resources
Hinshaw Partner Colleen Jarrott was recently quoted in the Mergers & Acquisitions publication, discussing ExxonMobil’s recent $60-billion agreement to buy Pioneer Natural Resources, along with other potential oil and gas company combinations.
Some analysts have cautioned that such oil and gas combinations go against the narrative of pivoting to renewable energy, but Jarrott said the two objectives do not have to be “antithetical” to one another. She added that Exxon bought Denbury similarly for its broad pipeline system and active development of carbon sequestration.
According to Jarrott:
Exxon has been looking to greener energy and has also reconfirmed their bread and butter. They saw a slip in their production, and Pioneer was their opportunity to bolster the traditional business.
“Oil & Gas Consolidation is Far From Done,” was published in Mergers & Acquisitions, October 31, 2023