Pioneer Natural Resources Co.’s management team on Thursday touted strong production volumes for the first quarter, boosted by natural gas output. A day after announcing his planned retirement, CEO Scott Sheffield also brushed aside questions about whether the Permian Basin powerhouse would consider a sale to ExxonMobil.

Multiple media outlets earlier in April reported that Pioneer held preliminary talks with ExxonMobil about a possible sale. ExxonMobil, coming off record profits in 2022 and one of the largest Permian producers, is said to be looking to bolster its inventory. Pioneer is the third-largest oil producer after Chevron Corp. and ConocoPhillips in the Permian.

“In regard to the past stories that have been out in the media, the board will always do what is in the...