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 other oil producers.

Two major oil and gas executives are now allowed to join Chevron and Exxon's board of directors — but only one might be interested.