$XOM (+0,52 %) is considering the acquisition of$PXD what regulatory
attention attracts. Other oil companies, including Chevron ($CVX (+1,06 %) ), are also increasingly focusing on Acquisitions instead of risky drilling.

Exxon would like to use this acquisition to expand its proven oil producing country instead of investing in unproven areas. The move comes after Exxon reported last year's record profits but which have declined this year due to lower energy prices.

Pioneer has made significant gains in recent years through acquisitions including. DoublePoint Energy valued at $6.4 billion in the year 2021 and Parsley Energy worth 7.6 billion US dollars in the year 2020, expanded its portfolio.