Exxon buys Pioneer – level 1
Exxon Mobil is a big oil company. Exxon is buying another company called Pioneer Natural Resources.
This deal is about a lot of money, 59.5 billion dollars. When this deal is ready, Exxon will become the biggest company in the Permian Basin. The Permian Basin is one of the most important oilfields in the United States. Exxon will pay for this deal with its own stock. The price for each share is 253 dollars. That is more than what Pioneers’ shares usually cost. The deal connects the biggest oil company in the United States with another very successful company, Pioneer.
The deal will be ready in early 2024.
You can watch the original video in the Level 3 section.
What do you think this merger between Exxon and Pioneer will mean for the oil industry in the US?
LEARN 3000 WORDS with NEWS IN LEVELS
News in Levels is designed to teach you 3000 words in English. Please follow the instructions
How to improve your English with News in Levels:
- Do the test at Test Languages.
- Go to your level. Go to Level 1 if you know 1-1000 words. Go to Level 2 if you know 1000-2000 words. Go to Level 3 if you know 2000-3000 words.
- Read two news articles every day.
- Read the news articles from the day before and check if you remember all new words.
- Listen to the news from today and read the text at the same time.
- Listen to the news from today without reading the text.
- Answer the question under today’s news and write the answer in the comments.