Pioneer Natural in talks to acquire Range Resources, Bloomberg reports

Pioneer Natural Resources (PXD) is considering an acquisition of Range Resources (RRC), Ed Hammond and Dinesh Nair of Bloomberg report, citing people familiar with the matter. Pioneer Natural is seeking further consolidation in the shale industry, sources told Bloomberg. Deliberations are ongoing and there’s no certainty the companies will reach an agreement, the peopled added. Shares of Range Resources jumped 12% to $28.31 before halting for volatility following the report while Pioneer Natural is down 4% to $196.15.