Down 230 people after layoffs From The Houston Chronicle Pioneer Natural Resources recently laid off a quarter of its workforce but continues to drill in the Permian Basin of West Texas. The Irving-based oil company is seeking permission from the Railroad Commission of Texas to drill 10 new horizontal wells on three leases split between Martin, Midland and Upton counties. All
Ensign Natural Resources Announces Acquisition of Eagle Ford Acreage from Pioneer Natural Resources
From Reuters Having slashed spending plans and run out of willing buyers for assets, some U.S. shale producers are turning to workforce cuts as investors step up demands for returns. Pioneer Natural Resources Co, one of the largest producers in the Permian Basin of West Texas and New Mexico, and Laredo Petroleum Inc another Permian producer, this week disclosed plans
Pioneer also names new chairman Pioneer Natural Resources Chairman Scott Sheffield returned as CEO today. In a surprise shift in the corner office that is effective immediately, Pioneer Natural Resources Company (stock ticker: PXD, $PXD) let the world know this afternoon that Timothy L. Dove has retired as CEO and director and that its board chairman, Scott D. Sheffield, will
CapEx plan down 11% By Richard Rostad, analyst, Oil & Gas 360 Pioneer released fourth quarter earnings today, becoming the first major Permian pure-play to report year-end results. Pioneer earned $324 million in net income, or $1.89 per share, in Q4, down from the $665 million the company earned in Q4 2017. Full-year results are up, though, as Pioneer reported
Deal to sell Pioneer Pumping Services’ HHP, coiled tubing units and maintenance operations includes a long-term service contract to provide pressure pumping in the Permian Basin for up to a decade Pioneer Natural Resources Company (stock ticker: PXD) said it is selling its pressure pumping assets–Pioneer Pumping Services–to Midland-based ProPetro Holding Corp. (stock ticker: PUMP), and in the process locking up dedicated
Pioneer Natural Resources (ticker: PXD) reported third quarter results yesterday, showing net income of $411 million, or $2.39 per share. The company produced 288 MBOEPD in the Permian, up 5% from the previous quarter. This is at the high end of guidance, driven by 7% growth in Permian oil production. A few surprises Considering the differential pressure most operators are
Locally sourced frac sand gets the job done at a discount Last week, Alpine Silica, a private supplier of frac sand, announced that it will open two new frac sand projects—one in Van Horn, Texas and the other in Fay, Oklahoma, further adding to its existing sand portfolio. Alpine estimates that the Oklahoma plant and the Van Horn facility will
Forecasts cashflow of approximately $3.2 billion at current strip prices for the remainder of 2018 – $66 per barrel for oil and $2.80 per Mcf for natural gas Running 20 Permian Hz rigs Pioneer Natural Resources Company (ticker: PXD) reported Q1 2018 net income of $178 million, or $1.04 per diluted share. Companywide production was 312 MBOEPD in the quarter,
As oil and gas companies dive into the Q4 earnings season in the coming days and weeks, more and more chief executives at E&Ps and oilfield service companies will share their insight as to their recent operations, thoughts about where the industry is headed, technological advancements and plans for 2018. Catching up with some of the earnings calls from the
250-275 gross wells expected to be on production in the Permian Basin in 2018 $2.6 billion 2018 Permian-focused CapEx Pioneer Natural Resources (ticker: PXD) placed 64 horizontal wells on production in the fourth quarter of 2017. In the Permian, 43 wells were in the northern area and 21 wells were in the southern Wolfcamp joint venture area. For the full
Pioneer’s Scott Sheffield points to the Permian’s full potential, Cheniere CCO Anatol Feygin touts U.S. LNG export growth at the EIA 2017 Energy Conference It’s been an interesting week or two for U.S. energy on the world stage. The new administration’s pro-energy development posture has gone into overdrive. From energy-focused cabinet leaders mandating studies as to the need for new
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