Pioneer Natural Resources – Page 2

Pioneer’s $6.4 billion deal for DoublePoint accelerates U.S. shale oil consolidation

April 2, 2021

Reuters U.S. oil producer Pioneer Natural Resources agreed on Thursday to acquire privately-held rival DoublePoint Energy for about $6.4 billion, speeding up a consolidation of shale oil producers. Oilfield rollups have accelerated this year as energy prices recover following last year’s coronavirus-driven market crash. Companies with strong balance sheets have been snapping up debt-laden and privately-held operators, and promising to

Pioneer Natural Resources Company Reports Fourth-Quarter and Full-Year 2019 Financial and Operating Result -oilandgas360

Pioneer Natural Resources reinstate executive pay after pandemic cost cutting

November 20, 2020

Nov 20 (Reuters) – Shale producer Pioneer Natural Resources Co said on Friday it would reinstate full salaries of its chief executive officer and other executives in 2021, after cutting them earlier this year as the COVID-19 pandemic crushed oil prices. Pioneer had cut CEO Scott Sheffield’s annual base salary by 20% in May, a month after U.S. oil prices

U.S. shale producers’ Pioneer Natural, Parsley prepare job cuts

August 25, 2020

Reuters Two U.S. shale oil producers, Pioneer Natural Resources Co and Parsley Energy Inc, are planning to trim staff in coming days, people familiar with the matter said on Monday, after each posted large second-quarter losses. The cost cuts are the latest by oil and gas producers as oil demand and prices have plunged due to the COVID-19 pandemic. More

Pioneer Natural Resources CEO warns independent oil companies could go bankrupt if production continues amid coronavirus

March 27, 2020

CNBC Oil & Gas 360 Editor’s Note: Excellent CNBC Fast Money Interview with Scott Sheffield, CEO, Pioneer Natural Resources. Scott talks about several key points: He has asked President Trump to get involved with the price war between Russia and Saudi Arabia. If no action is taken by him, he may loose a lot of oil producing states in the

Pioneer Natural Resources cuts budget nearly in half as oil falls below $30

March 17, 2020

Houston Chronicle Irving oil company Pioneer Natural Resources is cutting its 2020 budget in nearly half as crude prices slipped below $30 per barrel. The exploration and production company said late Monday afternoon that it plans to spend between $1.7 billion to $1.9 billion on drilling, hydraulic fracturing and other capital projects in 2020. The figure marks a 45 percent

Pioneer Natural Resources Company Reports Fourth-Quarter and Full-Year 2019 Financial and Operating Results; Provides 2020 Outlook

February 19, 2020

Pioneer Natural Resources Company (NYSE:PXD) (“Pioneer” or “the Company”) today reported financial and operating results for the quarter and year ended December 31, 2019. Pioneer reported fourth quarter net income attributable to common stockholders of $344 million, or $2.06 per diluted share.

Texas oil explorers say predictions of growth contradict dire reality

November 27, 2019

Houston Chronicle Texas wildcatters, after years eye-rolling at shale skeptics, are now saying global analysts are underestimating just how severe the industry’s slowdown is. What’s ticking folks off these days is how the International Energy Agency in Paris and the Energy Information Administration in Washington still predict robust U.S. production growth next year, despite the dire reality on the ground.

U.S. oil producers to slash spending for second straight year in 2020

November 15, 2019

Reuters U.S. energy producers plan to slash spending for a second straight year in 2020 as companies struggle to extract profits from the U.S. shale boom. While U.S. crude output hit a record 13 million barrels per day (bpd) this month, U.S. oil companies have struggled to deliver consistent profits. That is in part due to their success – higher

Oil rises on signs of U.S. supply drop, OPEC’s shale outlook

November 14, 2019

Houston Chronicle Oil rose for a second day after an industry report pointed to a drop in U.S. inventories, and as OPEC said it sees potential for a “sharp” slowdown in American shale output next year. Futures added 1.1% in New York. Expectations that the U.S. government will report that crude inventories increased last week eased after data from the

Top shale CEO says OPEC shouldn’t worry about U.S. oil growth

November 5, 2019

Source: Reuters HOUSTON (Reuters) – Pioneer Natural Resources Chief Executive Scott Sheffield said on Tuesday that he expects the Permian Basin, the top U.S. shale field, to “slow down significantly over the next several years.” Source: pxd.com “I don’t think OPEC has to worry that much more about U.S. shale growth long term,” Sheffield said on Tuesday on a call

Investors brace for poor U.S. shale earnings amid weak oil and gas prices

October 28, 2019

Source: Reuters (Reuters) – Investors are bracing for weaker results from U.S. shale players in coming days as lower oil and natural gas prices and cost-cutting measures have weighed on third-quarter operations. Major shale producers ConocoPhillips (COP.N) and Concho Resources (CXO.N) this week kick off quarterly earnings reports for a group whipsawed this year by volatile pricing and investor demands

Lonestar Announces Results for Horned Frog Wells - Oil & Gas 360

Energy Bankruptcies Back on the Rise in 2019

August 15, 2019

From The Houston Chronicle After a recovery from the last oil bust, energy bankruptcies are back on the rise in 2019. The number of oil and gas bankruptcy filings through mid-August has nearly equaled the total tally from 2018, and the aggregate debt from 2019 bankruptcy filings of almost $20 billion has already surpassed the roughly $17 billion from a

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