An update from Pioneer Natural (PXD) is now available.
A merger between Pioneer and ExxonMobil resulted in significant changes to Pioneer’s financial instruments and corporate structure. As of May 3, 2024, Pioneer’s Convertible Senior Notes due 2025 were adjusted to be convertible into ExxonMobil stock, with around $450 million of these notes still outstanding. Pioneer also settled all obligations under its Credit Agreement as part of the merger. Shares of Pioneer stock were delisted from the NYSE, with each share converting to the right to receive shares of ExxonMobil stock, affecting common shares as well as various stock units and restricted stocks. Following the merger, Pioneer’s board and officers were replaced by those from ExxonMobil.
For a thorough assessment of PXD stock, go to TipRanks’ Stock Analysis page.
