Former Pioneer Natural Resources CEO Scott Sheffield told Hart Energy, “For now, I remain one of Exxon’s largest individual shareholders and as such will consider other options.”

The FTC has reopened an order involving Chevron’s proposed acquisition of Hess, and another regarding Exxon Mobil’s proposed purchase of Pioneer Natural Resources after its initial complaints failed to plead any antitrust law violation.

The U.S. Federal Trade Commission on Thursday reversed bans on the CEOs of takeover targets joining the boards of Chevron and Exxon Mobil that the Biden administration made a condition of clearing the oil giants' deals to buy two oil producers.