By Colin Kellaher

Shares of Pioneer Natural Resources jumped more than 10% in premarket trading Friday after The Wall Street Journal reported that the shale driller is near a blockbuster deal to be acquired by energy giant Exxon Mobil.

A deal potentially worth about $60 billion could be sealed as soon as in the coming days, The Journal reports, citing people familiar with the matter said.

Pioneer shares closed Thursday at $214.96, giving the Irving, Texas, company a market capitalization of around $50 billion.

In premarket trading Friday, Pioneer shares were recently up 10.4% to $237.37, while shares of Exxon edged down 1.4% to $107.49.

Write to Colin Kellaher at colin.kellaher@wsj.com

(END) Dow Jones Newswires

October 06, 2023 06:09 ET (10:09 GMT)

Copyright (c) 2023 Dow Jones & Company, Inc.
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