US shale CEOs took home millions as the industry lost billions. Meet the 8 top executives who earned the most.
Scott Sheffield, CEO of Pioneer Natural ResourcesA Texas-based oil and gas exploration and production company with operations in the Permian Basin.A spokesperson for Pioneer Natural Resources said that $10 million of Sheffield's 2019 compensation is tied to the company's performance relative to peers over the next three years. It's possible that he would receive only a portion of that sum.
The spokesperson also noted that Sheffield has taken a voluntary 70% cut to his cash compensation this year "in light of current market conditions." About the firm: An oil and gas exploration and production firm headquartered in New York City, formed by the merger of Hess Oil and Chemical and Amerada Petroleum. "Executive compensation for 2019 reflected our company's outstanding operational results and position as the best performing energy stock among our peers," a Hess spokesperson said, mentioning that the company participated in one of the industry's largest oil discoveries of the last decade.
"He's earned well below his target pay over the past few years," the spokesperson said of Hager. "As is the case every year, the company is engaging in meaningful discussions with shareholders to ensure their views play a role in future pay programs." Cabot Oil and Gas workers at a hydraulic fracturing site in South Montrose, PennsylvaniaA Houston-based exploration firm focused on natural gas in Pennsylvania and West Virginia and oil in Texas.
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