The Federal Trade Commission (FTC) has finalized a consent order addressing antitrust concerns related to Exxon Mobil Corporation's acquisition of Pioneer Natural Resources. This final order resolves charges that were initially announced in May 2024.

Under the terms of the consent order, Exxon is barred from nominating, designating, or appointing Scott Sheffield, the founder and former CEO of Pioneer, to its board. Additionally, Sheffield is prohibited from serving in any advisory role with Exxon's board or management.

The order further stipulates that for five years, Exxon cannot nominate, designate, or appoint any Pioneer employee or director to its board, with certain exceptions. Moreover, for a period of ten years, Exxon must comply with specific Clayton Act Section 8 attestation and reporting obligations.

The decision followed a public comment period and was approved by a narrow 3-2 vote within the Commission. Commissioners Andrew N. Ferguson and Melissa Holyoak dissented from the majority decision. Chair Lina M. Khan released a statement regarding the decision while Commissioner Holyoak issued a dissenting statement supported by Commissioner Ferguson.

The FTC emphasizes its role in promoting competition and protecting consumers. It reassures that it will not demand money or make threats and encourages individuals to learn more about consumer benefits through competition or file antitrust complaints if necessary.

For ongoing updates and resources from the FTC, individuals are encouraged to follow their social media channels and subscribe to press releases.