Pioneer Pure Assets (NYSE:PXD) stated it is not considering an acquisition after an earlier report that it was contemplating a purchase order of shale gasoline producer Vary Assets (NYSE:RRC). Vary Assets fell 5.5% in after hours buying and selling, whereas PXD rose 1.3%.

Pioneer Pure (PXD) stated it is “not considering a big enterprise mixture or different acquisition transaction,” the corporate stated in a assertion late Friday.

Vary Assets (RRC) jumped 12% in common buying and selling on Friday after a Bloomberg report a few potential Pioneer Pure (PXD), although the merchandise stated deliberations had been ongoing, however there was no certainty the businesses would attain an settlement. PXD fell 4.1% on Friday in common buying and selling.

Shopping for Vary Assets (RRC) would deliver Pioneer Pure (PXD) into the Marcellus Basin in southwest Appalachia, the place the important thing useful resource is gasoline, not oil, the report famous.

Pioneer (PXD) CEO Scott Sheffield has a repute for dealmaking, with acquisitions of Parsley Power and DoublePoint Power since 2020.

Vary Assets (RRC) is scheduled to report This fall outcomes on Tuesday.