Longtime shale boss and North Texas energy magnate Scott Sheffield said he’s no longer interested in joining Exxon Mobil Corp.’s board after the U.S.

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.

By unanimous vote, the three members of the Federal Trade Commission reopened and canceled the consent order barring Pioneer Natural Resources founder and former Chief Executive Officer Scott Sheffield from the ExxonMobil board of directors.