(World Oil) – Pioneer Energy announced today they have been selected by the U.S. Department of Energy for four different awards which collectively total $27 million. Three of these are intended to advance the company’s Emission Control Treater™ (ECT), a breakthrough near zero emissions well pad production technology that can increase crude yield by 5-10%. The ECT is a closed
Investing HOUSTON – Exxon Mobil Corp (NYSE:XOM) on Monday signaled that lower refining margins across the industry and lower natural gas prices will reduce profits in the second quarter. A snapshot of operating factors affecting the quarter suggests earnings per share between $1.50 and $2.40, or about $8.3 billion, which is 17% below market consensus. The preview excludes additional oil and gas
World Oil (Bloomberg) – The independent shale drillers that undermined OPEC’s decades-long grip on global oil markets soon will be a thing of the past as they merge with international giants, according to one of the industry’s founding members. Pure-play shale drillers will be acquired by larger companies within the next five years amid intensifying financial pressures and demand for
Nasdaq Shares of Pioneer Natural Resources PXD.N climbed nearly 8% on Friday on news that Exxon Mobil XOM.N, the largest U.S. oil and gas company, was in advanced talks to buy the shale producer in a deal valued at a whopping $60 billion. A deal would be Exxon’s biggest acquisition since its $81 billion acquisition of Mobil in 1998. It would make the
Oil Price Oil prices are set to rise later this year and trade in the $70-$100 range over the next three to five years as supply growth remains limited and OPEC+ continues to restrict output, according to a top executive at the largest pure-play U.S. shale producer, Pioneer Natural Resources. Higher labor and material costs are slowing U.S. shale
Pioneer Energy is a Colorado-based designer and original equipment manufacturer of novel hydrocarbon processing technologies that decarbonize the oil and gas industry. The company offers a range of innovative, proprietary systems that capture or eliminate emissions sources and turn otherwise wasted or flared gas and liquid streams into revenue generating products. Pioneer offers systems to more efficiently process wellhead fluids,
Oil Price ExxonMobil has held early informal talks about potentially acquiring the largest pure-play shale producer, Pioneer Natural Resources, The Wall Street Journal has reported, quoting sources with knowledge of the matter. Exxon is looking to boost additionally its position in the U.S. shale patch and it has said for years that the Permian basin would be its key priority area
Oil and Gas 360 OPINION: Eyal Aronoff is Chief Executive Officer of Pioneer Energy. Pioneer Energy will be giving a presentation at 4:10pm Central Time on Tuesday, April 18, 2023 at The Energy Venture Summit at EnerCom Dallas at Hotel Crescent Court, Uptown Dallas. Pioneer Energy designs and fabricates proprietary hydrocarbon processing systems that capture or eliminate emissions sources and
Publisher’s Note: Dan Genovese with EnerCom met with Eyal Aronoff, Chief Executive Officer of Pioneer Energy to discuss Pioneer’s innovative, proprietary hydrocarbon processing systems that capture or eliminate emissions sources and turn otherwise wasted or flared gas and liquid streams into revenue generating products. Pioneer’s systems are designed to more efficiently process wellhead fluids, to capture and process associated and
Oil Price OPEC is likely to cut oil production again, Pioneer Natural Resources CEO said at a Goldman Sachs Conference in Miami on Thursday. “Saudi is not going to let Brent stay around $75 a barrel,” Scott Sheffield said, adding that it wouldn’t surprise him “if they had another cut.” Sheffield believes that oil futures will stay in backwardation going forward,
Oil Price Earlier this month, the White House’s top energy advisor Amos Hochstein called shale drillers “un-American” for their refusal to boost oil production despite the administrations’ multiple calls to that effect. Now, the industry is striking back. Pioneer Natural Resources’ CEO Scott Sheffield, one of the most outspoken industry executives, has indirectly explained to the White House that shale drillers
World Oil HOUSTON (Bloomberg) –Pioneer Natural Resources Co., the biggest oil producer in the Permian Basin, closed out almost all its hedges for this year, indicating a bullish outlook for crude prices. The move will cost $328 million spread over the course of 2022, Pioneer said in a filing Wednesday, but leaves the company well positioned to bank any uplift
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