Gibson Dunn Advising Pioneer Natural Resources on its $64.5 Billion Merger with ExxonMobil

October 11, 2023

Gibson Dunn is advising Pioneer Natural Resources on its $64.5 billion merger with ExxonMobil.

The merger combines Pioneer’s more than 850,000 net acres in the Midland Basin with ExxonMobil’s 570,000 net acres in the Delaware and Midland Basins, creating the industry’s leading high-quality undeveloped U.S. unconventional inventory position. Together, the companies will have an estimated 16 billion barrels of oil equivalent resource in the Permian.

The Gibson Dunn corporate team is led by partners Jeffrey Chapman and Tull Florey and includes partners Andrew Kaplan and Michael P. Darden and associates Phillip Sanders, Jonathan Sapp, Jordan Rex, Benjamin Lefler, William Altabef, Alexis Levine and Graham Valenta. Partners Darius Mehraban and Doug Horowitz and of counsel Adam Lapidus are advising on financing. Partners Michael Cannon and Eric Sloan, of counsel Jennifer Sabin, and associates Josiah Bethards and Duncan Hamilton are advising on tax aspects, and partner Krista Hanvey and associate Gina Hancock are advising on benefits. Partners Stephen Weissman, Chris Wilson and Sophia Hansell and associates Zoë Hutchinson and Steve Pet are advising on antitrust aspects.