This Deal Could Create The Next Big Shale Giant

Just a day after ConocoPhilips announced it will buy Concho Resources, another U.S. oil major was reported to be in talks to buy a fellow driller. Pioneer Natural Resources is negotiating the acquisition of Parsley Energy, the Wall Street Journal reported late on Monday, citing unnamed sources familiar with the talks. According to them, the deal would be an all-stock transaction and could be finalized by the end of the month. Parsley Energy has a market value of some $4.17 billion and about $3.123 billion in long-term debt. The company reported…