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Tag Archives: Pioneer Natural Resources

Signs point to recovery

Oil prices tick upward. The drop in rigs drilling in the Permian Basin continues to flatten. And some observers expect the worst of the layoffs are over. Meanwhile, some of the biggest drillers in the region, Pioneer Natural Resources and EOG Resources, announced plans in the past two weeks to start drilling soon, dependent on price stability and other factors. ...

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Permian producers see growth

Two of the biggest independent oil companies focused on the Permian Basin say they might start adding drilling rigs in the coming months, spurred by a rise in oil prices and confidence the downturn has passed its bottom. EOG Resources reported plans Tuesday to start adding drilling rigs once oil stabilizes at $65 per barrel. Pioneer Natural Resources on Wednesday ...

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Pioneer to close Denver office

Pioneer Natural Resources

Another energy company is leaving the Denver area, and it’s taking about half of its jobs with it, the Denver Business Journal reports. Pioneer Natural Resources announced yesterday that it will close its Denver office and cut about 100 jobs at its Trinidad field office “as a result of continued weakness in natural gas prices and the recent collapse of ...

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EOG Resources to resume fracking if oil hits $65/barrel

WILLISTON, N.D. – Oil and natural gas producer EOG Resources Inc plans to begin fracking hundreds of wells in North Dakota and Texas later this year if oil prices stabilize around $65 per barrel, executives said on Monday after reporting a better-than-expected adjusted profit. EOG was the latest major U.S. shale oil producer to peg increased operations to a specific ...

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CEO steps up to the plate and claims the Permian Basin is still in early innings

Pioneer Natural Resources CEO Scott Sheffield claims that the Permian Basin is only in the “second or third inning” of its career. The Permian has two important horizons, the eastern side and the western side.  On each side, the Spraberry and Wolfcamp formations exist.  According to Sheffield, the eastern side of the basin has an estimate 75 billion barrels of ...

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Midland school’s to receive grade A support from Texas oil and gas companies

school

Midland’s school system is garnering support from a group of heavy hitters in the Texas oil and gas industry. Concho Resources, along with Pioneer Natural Resources, Chevron, Apache and Cimarex Energy have teamed up to help strengthen and develop the school district for the future. The initiative aims to recruit young professionals and their families to Midland, a city heavily-reliant ...

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What could save the boom? Energy leaders call for crude exports

With prices low and production high, businesses are pushing with new vigor in efforts to lift the ban America has over exporting crude petroleum. Most recently, ConocoPhillips Chairman and CEO Ryan Lance spoke at the U.S. Chamber of Commerce Tuesday on the matter. According to a news release from ConocoPhillips, Lance delivered his speech, “American Energy: Keeping the Momentum Going,” ...

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Pioneer asks city for delay

Pioneer Natural Resources CEO Scott Sheffield said Wednesday the company is positioned “as well as anybody to weather this storm” of low oil prices. But, at least for a while, executives are also asking the City of Odessa to weather it with them. Irving-based Pioneer, one ofthe major operators in the Permian Basin, asked city officials about a month ago ...

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