Pioneer Natural Resources on Thursday reported a lower first-quarter profit, weighed down by higher production costs and weak natural gas prices.
May 2 - 's $60 billion purchase of the company, but barred Pioneer's former CEO, Scott Sheffield, from joining Exxon's board on allegations he attempted to collude with OPEC to raise oil prices.
Sheffield retired as Pioneer's CEO on Dec. 31, but continues to serve on its board and was due to take a seat on Exxon's board when the acquisition closed. Exxon said it plans to close the all-stock deal on Friday, bolstering the largest U.S. oil company's production in the Permian Basin. Pioneer shareholdersPioneer saw average realized prices of $76.86 per barrel of oil in the quarter, up 2.3% from a year earlier, but average realized prices for gas declined 51% to $1.87 per thousand cubic feet .Net income attributable to common shareholders for the three months ended March 31 was $1.1 billion, or $4.
RULES:RESULTS REPI:GAS BACT BIZ CMPNY COM ENER ENFF ENG ENR EXPRO EXPRO1 NGS NRG OILG OILI OILI08 PROD PUBL RES RESF AMERS US NAMER
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.
Pioneer Natural Resources calls out FTC over barring ex-CEO in Exxon dealExxon Mobil's former CEO Scott Sheffield and Pioneer Natural Resources are hitting the FTC back in a recent statement, claiming the commission fundamentally...
Read more »
Pioneer Natural Resources co-founder will be barred from board in deal for Exxon mergerThe US Federal Trade Commission is poised to greenlight Exxon Mobil’s $60 billion purchase of Irving-based Pioneer Natural Resources after the companies...
Read more »
FTC bars former Pioneer CEO in Exxon Mobil deal, saying he colluded with OPECExxon Mobil's $60 billion deal to buy Pioneer Natural Resources received federal clearance, but former Pioneer CEO Scott Sheffield was barred from joining the new company's board of directors.
Read more »
Exxon stock falls as earnings miss on lower natural gas prices and squeezed refining marginsExxon Mobil first-quarter earnings missed expectations as the industry came under pressure from eroding refining margins and collapsing natural gas prices.
Read more »
Exxon earnings miss, hit by lower natural gas prices and squeezed refining marginsExxon Mobil first-quarter earnings missed expectations as the industry came under pressure from eroding refining margins and collapsing natural gas prices.
Read more »
FTC Approves $60B Exxon-Pioneer DealU.S. regulators Thursday gave the go-ahead to Exxon Mobil's $60 billion purchase of Pioneer Natural Resources, but barred Pioneer's former CEO from Exxon's board on allegations he attempted to collude with OPEC to raise oil prices.
Read more »