As oil majors cast shale nets, Texas oilman Sheffield made Pioneer the prized catch
© Reuters. FILE PHOTO: Scott Sheffield, Chairman and Chief Executive Officer of Pioneer Natural Resources Company, speaks to guests and investors during the OGIS conference for mid- and small-tier oil and gas companies in New York, April 8, 2014. REUTERS/Eduardo Mu
"Scott is a huge competitor. That's what drives him. It's about being competitive with his peer group," said the younger Sheffield, one of five siblings and co-managing partner at investment firm Formentera Partners. Sheffield retired two decades later but returned as CEO in 2019 after the company overspent and overpromised investors.processing, oilfield services and South Texas shale assets on the block. Those generated about $1 billion in cash to buy rivals.
In comments after the deal was disclosed, Sheffield and Exxon CEO Darren Woods said they agreed to terms of a sale two weeks after the pair first sat down to negotiate.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
As oil majors cast shale nets, Texas oilman Sheffield made Pioneer the prized catchFour years ago, Texas oilman Scott Sheffield saw the oil majors were moving aggressively into the top U.S. shale basin and plotted to make his then-$24 billion Pioneer Natural Resources (PXD.N) the oilfield's biggest prize.
Read more »
Texas National Guard are installing razor wire along Texas-New Mexico borderThe wire barrier – placed along the Rio Grande in layers near Sunland Park, N.M. – is an attempt to curb a dramatic increase in migrants crossing into Texas,...
Read more »
After ringing the register on Pioneer, we're looking to another oil playerThe Investing Club holds its Morning Meeting every weekday at 10:20 a.m. ET.
Read more »
Ree Drummond Did the Most Unbelievable Thing To See Her Son in College for ‘2 Hours’ & Moms Are Weighing In With Similar StoriesThe Pioneer Woman is officially an empty nester.
Read more »
Time, opportunity is now for Dallas Cowboys LB, former Texas draft bust Malik JeffersonMalik Jefferson will get a chance to contribute on defense against the Chargers as part of the Cowboys plan to help replace the injured Leighton Vander Esch
Read more »