Reuters reveals Continental Resources to buy Texas land from Pioneer for $3.25 bln

Reuters revealed that the U.S. oil and gas producer was nearing a deal to buy the Delaware Basin assets of peer Pioneer Natural Resources for more than $3 billion, expanding Continental’s operations into Texas. The companies then confirmed the deal. It is the latest sign that soaring crude prices are emboldening some U.S. energy companies to pursue deals as they seek to ramp up production.