MR T Reviews Smokey And The Bandit | #smokey

Exxon Mobil's Megadeal

Exxon Mobil Corp. has agreed to buy Pioneer Natural Resources for $59.5B in an all-stock deal, or $253 per share, making it the largest oil-and-gas merger in more than 20 years since Exxon bought Mobil for $75B in 1999.

The deal allows Exxon Mobil to expand its footprint in the Permian Basin, the highest-producing oil field in the US, which spans West Texas and southeastern New Mexico (see overview). With Pioneer being the Permian's largest well operator, the combined entity would have 16 billion barrels of oil equivalent in the Permian and double Exxon Mobil's daily production to 1.3 million barrels of oil equivalent. The daily figure will rise to 2 million barrels by 2027. The transaction is expected to close in the first half of 2024 once it receives regulatory approval.

The move comes three months after Exxon Mobil, which had a record profit of $56B in 2022, bought pipeline operator Denbury for $4.9B to harness its carbon capture capabilities.

Photo: Yahoo Finance

Escaped Killer Captured

Convicted murderer Danelo Cavalcante was caught yesterday by Pennsylvania police after evading officials for two weeks, during which he broke into homes and altered his appearance. The 34-year-old Brazilian inmate had escaped from Chester County Prison 30 miles west of Philadelphia after scaling two close walls in a corner of an outside exercise area and reaching the roof (see video).

Cavalcante, armed with a stolen .22 caliber gun, was found lying in a wooded area near a John Deere tractor dealership on the outer perimeter of a nearly 10-square-mile search zone. Police discovered him using a thermal imaging camera on a Drug Enforcement Administration aircraft. Cavalcante tried to escape from tactical units at the scene by crawling through underbrush but was subdued by a K-9 police dog, who bit his head. See a visual dive detailing his escape and capture here.

Cavalcante was sentenced to life in prison last month for murdering his ex-girlfriend in front of her two children in 2021; he is also wanted for homicide in Brazil.

Photo: Danelo Cavalcante was sentenced to life in prison on August 22 for the murder of Deborah Brandao, 33. (INSTAGRAM via @DeborahBrandao123

Putin Hosts Kim

Russian President Vladimir Putin and North Korean leader Kim Jong Un held an hourslong summit yesterday, a conversation reportedly largely focused on military support from North Korea for Russia's war in Ukraine. For the 39-year-old Kim, it was his first known trip outside the country since before the pandemic.

Analysts have speculated for months to what degree Russia—now in its 19th month of war—had depleted existing stockpiles of ammunition and weaponry. Earlier this year, officials estimated Russia may have used more than 10 million total rounds last year, at least five times more than its annual production capacity.

Conversely, North Korea is believed to hold millions of old rounds and Soviet-era missiles. The country would also benefit greatly from any financial support from Russia—the North Korea economy has contracted by almost 5% since 2020, with a GDP per capita around $1,000.

Western officials condemned the talks but did not specify any potential response to the meeting.

Photo: A South Korean army K1A1 tank fires during a joint live-fire exercise in Pocheon, South Korea.Photographer: SeongJoon Cho/Bloomberg