May 6 (Reuters) - Exxon Mobil ( XOM ) CEO Darren Woods said on

Monday that the company's acquisition of Pioneer will mean more

oil production at lower cost.

"We're bringing a unique set of technologies and development

capabilities to a very attractive set of acreage. So we will

produce more oil at a lower cost, which is good for the

economy," Woods said at the Milken conference in Los Angeles.