Pioneer Forms Eagle Ford Shale Asset Team
Pioneer announced the formation of a new Eagle Ford Shale Asset Team and the realignment of responsibilities for certain Executive Vice Presidents (EVPs) who are members of Pioneer's Management Committee. These changes are effective immediately and will support the Company's plans to potentially accelerate development of its sizable acreage position in the Eagle Ford Shale, including active pursuit of a joint venture partner, and to ramp up Spraberry drilling and other Permian services.
William F. Hannes, formerly EVP Business Development, has been named EVP South Texas Operations. Two asset teams will report to Mr. Hannes, the existing South Texas Asset Team and the newly formed Eagle Ford Shale Asset Team. The new Eagle Ford Shale Asset Team will focus on executing Pioneer's Eagle Ford JV strategy while preparing to initiate an aggressive development drilling program in the play.
Danny L. Kellum, formerly EVP Domestic Operations, has been named EVP Permian Operations and will focus his attention on Pioneer's expanding Permian activities, with executive responsibility for the Permian Asset Team and Permian integrated services. Pioneer plans to drill 1,000 wells per year by 2012 in the Spraberry Trend, the Company's largest asset.
Jay P. Still, EVP Domestic Operations, will add executive responsibility for Pioneer's Mid-Continent operations to his current responsibilities for the Company's Rockies, Alaska and Barnett Shale assets.
Chris J. Cheatwood, formerly EVP Geoscience, has been named EVP Business Development and Technology and will have executive responsibility for business development and geoscience/engineering technology.
Scott D. Sheffield, Pioneer's Chairman and CEO, stated, "Considering the magnitude of opportunity we foresee in the Spraberry Trend and Eagle Ford Shale, we have realigned our executive team to optimize our ability to capture and accelerate the value of these strategic assets."
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