Summary by Moomoo AI
On May 3, 2024, Exxon Mobil Corporation completed the acquisition of Pioneer Natural Resources Company, resulting in Exxon Mobil becoming the ultimate beneficial owner of 16,600,000 shares, or 15.2% of the common stock, of ProPetro Holding Corp. This transaction was in accordance with the terms of the Merger Agreement dated October 10, 2023. The merger resulted in Pioneer surviving as a direct wholly owned subsidiary of Exxon Mobil. The acquisition was reported in an amendment to the Schedule 13D filed with the U.S. Securities and Exchange Commission. Exxon Mobil, along with its subsidiaries Pioneer Natural Resources USA, Inc., and Pioneer Natural Resources Pumping Services LLC, are now collectively reporting as the beneficial owners of the said shares. The filing also included the joint filing agreement among the reporting entities, and the announcement of a forthcoming appointment of a replacement director designee for ProPetro Holding Corp.'s board by Pioneer Pumping Services.