Pioneer Natural Resources Company News
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Permian Drillers Slash Output Themselves
Monday, May 04, 2020On the same day OPEC-style oil quotas in Texas were pronounced dead on arrival, shale drillers disclosed more supply cuts.
Pioneer Natural Cuts Budget Almost in Half
Wednesday, March 18, 2020As part of the plan, Pioneer will reduce its operated rig count from 22 to 11 within the next two months.
Investors Tightening the Screws on Oil, Gas Acquisitions
Monday, February 17, 2020M&A activity in oil and gas has almost ground to a halt after a flurry of deals last autumn.
Is the US Shale Boom Really About to End?
Thursday, December 26, 2019While there is distress for some companies, the situation offers an opportunity for others.
Shale Oil Pioneers Say the Boom is Ending
Wednesday, November 06, 2019Two shale pioneers think the days of relentless production growth from US unconventional oil fields are ending.
Pioneer's 2019 Permian Production Growth on Track
Friday, August 09, 2019Pioneer still plans to operate an average of 21 to 23 horizontal rigs in the Permian this year.
Permian Shale Primed For Mergers and Acqusitions
Monday, March 11, 2019The Permian Basin is on the cusp of a radical transformation with one simple premise: bigger is better.
Pioneer to Move to All West Texas Sand in 2019
Thursday, November 15, 2018Pioneer Natural Resources is closing a sand mine in Central Texas as the company transitions proppant supply to West Texas sand sources.
Pioneer Sells Pressure Pumping Assets to Midland Company
Tuesday, November 13, 2018Pioneer Natural Resources is selling the assets to Midland, TX-based oilfield services company ProPetro for $400MM.
Pioneer Natural Resources Profit Hurt By Higher Costs, Hedging Loss
Tuesday, August 07, 2018Pioneer Natural Resources Co posted lower-than-expected quarterly profit due to higher spending and a hedging loss of $358 million that kept the U.S. shale oil producer from fully benefiting from higher crude oil prices.
Shale Companies Sink On Investor Disappointment, Hedging Losses
Wednesday, August 01, 2018Shares of US oil producers dropped sharply after several companies posted weaker-than-expected results.
Pioneer Chairman Says Permian Faces Shut Ins on Pipe Shortage
Wednesday, June 20, 2018The biggest US shale region will have to shut wells within four months because there aren't enough pipelines to get the oil to customers.
Permian's Mammoth Cubes Herald Supersized Future for Shale
Thursday, February 22, 2018In the scrublands of West Texas there's an oil-drilling operation like few that have come before.
Big Shale Turns OPEC Ally From Foe With Focus on Oil Returns
Monday, December 04, 2017Don't expect Big Shale to rush and fill the hole left by OPEC in the oil market.
Pioneer Natural 3Q Adjusted Profit Beats Expectations
Wednesday, November 01, 2017Pioneer Natural Resources posts a better-than-expected adjusted profit, helped by rising commodity prices.
Rising Gas Output Drags Down Shares Of US Shale Leader Pioneer
Wednesday, August 02, 2017Shares of Pioneer Natural Resources Co plunged after the US shale producer cut its oil-production growth forecast and said it would pump more natural gas this year, spooking investors.
Pioneer Natural Trims 2017 Budget, Cites Weak Oil Prices
Tuesday, August 01, 2017Pioneer Natural Resources Co posted a better-than-expected profit, but said it would trim its 2017 capital budget.
Kemp: US Shale Producers Are Drilling Themselves into a Hole
Friday, June 30, 2017Drilling and production are rising. Prices are declining.
US Oil Drillers Cut Rigs for First Week Since January - Baker Hughes
Friday, June 30, 2017Analysts, however, noted the weekly decline in the rig count was likely just a brief pause in a drilling recovery.
Shale Drillers Are Outspending the World With $84 Billion Spree
Tuesday, May 09, 2017North American drillers plan to lift their 2017 outlays by 32% to $84 billion, compared with just 3% for international projects, according to Barclays.
Pioneer Natural Resources Reports Strong Results; Forecast Disappoints
Wednesday, May 03, 2017Pioneer Natural Resources reports a better-than-expected adjusted profit.
Land Swaps Let Permian Drillers Expand Shale Wells on the Cheap
Wednesday, March 29, 2017Horizontal drilling in the Permian Basin is creating a new kind of swap meet.
US Shale Firms Go Back To Work Buoyed By OPEC Deal, Trump Victory
Monday, November 14, 2016US shale producers are redeploying cash, rigs and workers, cautiously confident the energy sector has turned a corner after Donald Trump's election victory and OPEC's recent output curb pledge.
Pioneer Natural Resources CEO Doubts OPEC Will Reach Output Deal
Wednesday, November 02, 2016Pioneer Natural Resources CEO Scott Sheffield has little hope that OPEC members will agree later this month to curb production, a step that would boost low oil prices.
Shale Oil Firms Hedge 2017 Prices in 'Droves' After OPEC Rally
Monday, October 03, 2016Independent oil companies are using the post-OPEC rally to hedge their price risk for next year, banks and consultants say, a trend that's likely to be viewed with concern from Saudi Arabia to Venezuela.
Pioneer Says Some US Fracking Costs Competitive with Saudis
Thursday, July 28, 2016Improved fracking techniques have helped cut Pioneer Natural Resources' production costs in the Permian Basin to about $2 a barrel, low enough to compete with oil rival Saudi Arabia, CEO Scott Sheffield said on Thursday.
Fracker Pioneer Posts Wider Second-Quarter Loss on Derivatives
Wednesday, July 27, 2016U.S. oil producer Pioneer Natural Resources Co posted a second-quarter net loss that widened from a year earlier on $229 million in losses on derivatives it uses to insulate its revenues from volatile oil prices.
Oil, Gas Companies Tighten Cash Flow at Expense of Future Growth
Tuesday, July 26, 2016Oil and gas companies will achieve cash flow neutrality at $50 per barrel Brent crude this year, but have damaged their growth prospects to meet this goal.
Canadian Energy Earnings Hint at Brighter Outlook for Oil
Thursday, July 21, 2016The Canadian oil and gas earnings season kicks off with signs of an industry recovery as Encana Corp and Precision Drilling Corp outlined plans to boost activity.
Devon Sells Texas Land to Pioneer, Undisclosed Buyer for $858M
Wednesday, June 15, 2016U.S. shale oil producer Devon Energy Corp said it would sell Texas acreage to Pioneer Natural Resources Co and an undisclosed buyer for $858 million, as the pace of asset sales picks up on recovering oil prices.
Oil's Magic Number Becomes $50 a Barrel for Promise of Recovery
Wednesday, April 27, 2016BP, Nabors Industries and Pioneer Natural Resources all say that prices above $50 will encourage more drilling or provide the needed boost to cash flow.
Pioneer Natural Posts Quarterly Loss, Keeps Budget Plans
Monday, April 25, 2016Pioneer Natural Resources reports a smaller-than-expected quarterly loss as the company successfully slashes costs to offset a more than 30% drop in the price it received for its crude.
Big Oil's `Rock Star' in Congress Runs Rig Tours for Support
Monday, April 18, 2016Congressman Steve Scalise is one of the oil industry's busiest tour guides in Congress.
US Oil Drillers Cut Rigs to November 2009 Lows
Friday, April 15, 2016Baker Hughes says US energy firms cut oil rigs for a fourth week in a row to the lowest level since November 2009.
Oil, Gas Companies Lay Off Hundreds More Texas Workers
Tuesday, February 16, 2016As difficult market conditions continue, two more oil and gas companies announce layoffs in Texas.
It'll Take More Than An Oil Rally To Restart Shale Boom
Thursday, February 11, 2016Explorers in US oil fields stung by the quick rise and fall in the market last year are expected to move cautiously when crude prices begin to climb again.
Texas Shale Drillers Lure $2 Billion in New Equity to Permian
Tuesday, February 02, 2016Oil producers in West Texas, defying expectations they would fall victim to OPEC’s price war, are instead selling investors on the idea that they can still profit with prices below $35 a barrel.
E&P Lifeboat Hedges Fall to Lowest Rate in a Decade
Monday, February 01, 2016Most upstream companies were hesitant to lock in hedges when oil was trading in the $50s, hoping for a rally to raise prices.
U.S. Shale Firms, Struggling to Profit with $30 Oil, Slash Spending More
Wednesday, January 27, 2016Three major U.S. shale oil companies have slashed their 2016 capital spending plans more than expected in a bid to survive $30 a barrel oil prices, with one of them saying prices would need to rise more than 20 percent just to turn a profit.
Hungry for More Shale Oil Stock? Pioneer Natural Bets Yes
Wednesday, January 06, 2016Even after almost $400B in oil company market value was wiped out by investors fleeing the crude rout, Pioneer Natural Resources is betting there's ample demand for more shale-drilling shares.
Pioneer Natural Resources Says It Will Hold Off On New Rig Additions
Tuesday, November 10, 2015Pioneer Natural Resources will not add any new oil rigs in 2015 and is mulling the timing of its previously announced 2016 rig expansion program, Chairman and CEO Scott Sheffield says.
Efficiency Gains, Higher EUR Wells Means Fewer Rigs Needed at Pioneer
Tuesday, November 03, 2015Efficiency gains and the drilling of higher EUR wells will allow Pioneer Natural Resources to achieve its forecasted production growth with fewer rigs.
In Downturn, Frackers Turn to Toilet Water in Drought-Prone Texas
Friday, August 21, 2015Pioneer Natural Resources finds an unusual way to both save water and cut costs for its wells in west Texas.
US Oil Drillers Added Rigs For 2nd Week In A Row
Friday, July 10, 2015U.S. energy firms add five oil rigs, the second week of increases in a row, despite a 19% collapse in U.S. crude prices from a recent high, data shows in a sign drillers are ready to return to the well pad.
Pioneer Says Increasing Drilling Activity As Planned
Wednesday, July 08, 2015Pioneer Natural Resources says it is increasing drilling activity in Texas following the sale of its Eagle Ford shale pipeline and processing business.
Enterprise Products, Ferrellgas Partners Put Midstream M&A In Motion
Monday, June 01, 2015After a lull in mergers and acquisitions activity, Enterprise Products Partners and Ferrellgas Partners spend billions of dollars to grow footprint in Eagle Ford, joins emerging trend of midstream M&A.
IHS CERAWeek: Bucking Downturn, Pioneer Sees Adding Rigs Soon
Tuesday, April 21, 2015Pioneer Natural Resources will start adding drilling rigs in June so long as market conditions are favorable, the company's CEO says.
Pioneer: Freeze Hits Permian Oil Work, Wider Impact Seen
Tuesday, January 06, 2015Pioneer Natural Resources says that icy winter weather has significantly disrupted its production and drilling operations in the Permian Basin in West Texas.
Pioneer Natural Sells Acreage in Wolfcamp Shale for $1.7B
Wednesday, January 30, 2013Pioneer Natural agrees to sell 40% of its stake in approx. 207,000 net acres leased in the horizontal Wolfcamp Shale play to Chinese conglomerate Sinochem Group for $1.7 billion.
Pioneer Natural Resources Plans Barnett Asset Sale
Thursday, September 06, 2012Pioneer Natural Resources will put its Barnett shale assets up for sale as the company focuses on oil drilling in its Permian Basin and Eagle Ford shale assets.