The Globe and Mail reports in its Friday, Oct. 6, edition that unnamed sources say Imperial Oil parent Exxon Mobil is in advanced talks to acquire Pioneer Natural Resources in a deal that could value the Permian shale basin producer at about $60-billion (all figures U.S.). A Reuters dispatch to The Globe reports that the acquisition would be Exxon's biggest since its $81-billion deal for Mobil in 1998 and would expand its footprint in one of the most lucrative regions of the U.S. oil patch. Pioneer, which had a market value as of Thursday of $50-billion, is the third-largest producer of oil in the Permian basin. That basin, which stretches across parts of Texas and New Mexico, is the U.S. energy industry's most coveted because of its relatively low cost to extract oil and gas. If the negotiations conclude successfully, an agreement between Exxon and Pioneer could be reached in the coming days, say three sources. The Wall Street Journal first reported on Thursday that a deal between the two companies was approaching. Exxon, which has a market value of $436-billion, is the largest U.S. oil producer with an average 3.8 million barrels of oil equivalent per day (boed) from its global operations.