Pioneer Establishes $300M Share Repurchase Program
The board of Pioneer Natural Resources Co. has approved a new share repurchase program authorizing the purchase of up to $300 million of the company's common stock.
During 2006, Pioneer repurchased 8.8 million shares of common stock at an average price of $39.16 per share essentially completing the $1 billion share repurchase program announced in September 2005. Including prior share repurchase authorizations, Pioneer has repurchased approximately 30 million shares in just over two years, or approximately 21% of shares outstanding.
Pioneer is a large independent oil and gas exploration and production company, headquartered in Dallas, with operations in the United States, Canada, South Africa and Tunisia.
- Rising Gas Output Drags Down Shares Of US Shale Leader Pioneer (Aug 02)
- Pioneer Natural Trims 2017 Budget, Cites Weak Oil Prices (Aug 01)
- Kemp: US Shale Producers Are Drilling Themselves into a Hole (Jun 30)