Pioneer Natural Resources Acquires Parsley Energy

Diversified Energy To Acquire Birch Permian Holdings for $1.8 Billion

September 3, 2026

Energy

Diversified Energy has agreed to acquire Birch Permian Holdings (and certain affiliated companies) for approximately $1.8 billion, expanding its Permian Basin operated position. The company expects the deal to increase production by ~35% and adjusted EBITDA by ~55%, with closing expected in Q4 2026 subject to regulatory approvals and customary conditions.

Phillips 66 Acquires Pinnacle Midstream from Energy Spectrum Capital

May 20, 2024

Energy

Phillips 66 has agreed to acquire Pinnacle Midland Parent LLC (Pinnacle Midstream II) from private equity firm Energy Spectrum Capital for $550 million to expand its natural gas gathering and processing footprint in the Midland Basin. The assets include the Dos Picos 220 MMcf/d processing plant, ~80 miles of gathering pipeline and 50,000 dedicated acres; the deal is expected to close mid‑2024 subject to customary conditions, including HSR clearance.

ExxonMobil Merges With Pioneer Natural Resources in a $59.5 Billion Deal

October 12, 2023

Oil & Gas

ExxonMobil and Pioneer Natural Resources announced a merger valued at $59.5 billion. The combination brings together Pioneer’s contiguous Midland Basin acreage with ExxonMobil’s Delaware and Midland Basin portfolio to strengthen U.S. unconventional scale and increase Permian production potential.

Chevron Acquires PDC Energy in $6.3 Billion All-Stock Transaction

August 7, 2023

Oil & Gas

Chevron Corporation agreed to acquire all outstanding shares of PDC Energy, Inc. in an all-stock transaction valued at $6.3 billion. The deal adds PDC’s oil and gas assets—275,000 net acres in the Denver-Julesburg (DJ) Basin and 25,000 net acres in the Permian Basin—to strengthen Chevron’s position in key U.S. production basins. Chevron later announced the acquisition was completed after PDC shareholder approval.

Pioneer Natural Resources Completes Acquisition of DoublePoint Energy Leasehold Interests in the Midland Basin

May 4, 2021

Oil & Gas

Pioneer Natural Resources completed its previously announced acquisition of the leasehold interests and related assets of DoublePoint Energy in the Midland Basin for total consideration of $6.2 billion. The deal added approximately 97,000 net acres and was structured with Pioneer paying $1.0 billion in cash, issuing 27.2 million shares, and assuming $890 million of debt.

Parsley Energy Acquires Jagged Peak Energy

January 10, 2020

Oil & Gas

Parsley Energy, Inc. completed its acquisition of Jagged Peak Energy Inc., exchanging Parsley Class A common stock for Jagged Peak shares and causing Jagged Peak to delist from the NYSE. The deal is intended to combine complementary Permian Basin assets to capture operational synergies and improve capital efficiency for the combined company.