New York | Pioneer Natural Resources is in talks to buy rival Parsley Energy, according to people briefed about the matter, in the latest sign that consolidation in the US shale industry is gaining pace.
The two oil and gas producers – both exclusively focused on the Permian Basin, the world’s most prolific oilfield – are negotiating an all-stock deal that would help them better weather the headwinds faced by producers because of low prices of crude.
