News articles and links published by magazines, newspapers and websites that have covered Pioneer Natural Resources
The Spraberry/Wolfcamp Shale play near Midland is by far the biggest oil field in the country and the second largest in the world. It's bigger than the Bakken in North Dakota and bigger than the Eagle Ford Shale in South Texas in terms of recoverable oil. Only the infamous Ghawar oil field in Saudi Arabia has more.
What makes this area different is the various zones and the thickness of them, said Tim Dove, president and chief operating officer of Irving-based Pioneer. He explains stacked laterals in this video.
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An estimated 264 drilling rigs are punching holes in the Spraberry-Wolfcamp Shale, a massive oil play near Midland in West Texas that Pioneer Natural Resources CEO Scott Sheffield said could be one of the biggest in the country. Reporter Nicholas Sakelaris sits down with Sheffield to discuss Pioneer's 26 rigs in the area and trends in the industry today.
Scott Sheffield has a quick word of advice to observers of the continuing oil boom in West Texas' venerable Permian Basin: Get used to the idea of exporting U.S. crude oil.
"We'll be exporting crude at some time. We'll have to," Sheffield, CEO of Irving-based Pioneer Natural Resources, told an audience at Hart Energy's DUG Permian Basin conference at the Fort Worth Convention Center. The annual meeting traditionally spotlighted the hometown Barnett Shale and other natural gas plays in the country. But with growing attention paid to the state's crude oil production, this year's gathering focused on West Texas.
The first natural gas well in the Eagle Ford Shale was drilled in 2008 in LaSalle County in South Texas. There were 67 producing gas and 40 producing oil wells in the play by the end of 2009, according to statistic provided by the Texas Railroad Commission. That number has grown to 875 gas wells and 1,262 oil wells by the end of 2012.
"It has been an incredible play," says J.D. Hall, vice president, South Texas operations, for Pioneer Natural Resources. "I have done big projects before, but none of us were prepared for the pace and magnitude of the Eagle Ford. We are going as fast as humanly possible."
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The South Texas Energy and Economic Roundtable opened an office this week in San Antonio and launched its website, steer.com. The organization goal is to be a one-stop location for all Eagle Ford issues, and the place that connects the industry with the community. Founding STEER members include Eagle Ford operators Anadarko, Chesapeake Energy, ConocoPhillips, Marathon Oil andPioneer Natural Resources Company.
Pioneer Natural Resources believes it is sitting on a major oil reserve that offers at least two decades of drilling opportunities. To develop these resources, the company has enlisted some help. It has reached an agreement to sell a 40 percent interest in the 207,000 net acres the company has leased in the southern portion of the Spraberry Trend to Sinochem Petroleum USA LLC, a U.S. subsidiary of the Sinochem Group, for a total of $1.7 billion.
Three area companies aren't just the best places to work in Dallas-Fort Worth. The Container Store in Coppell, Park Place Dealerships in Dallas and Pioneer Natural Resources USA Inc. in Irving are among the Top 10 workplaces in America.
If Midland voters approve Midland ISD’s $163.1 million elementary school bond proposal on Nov. 6, Pioneer Natural Resources will see its tax bill increase by more than $500,000 annually. It’s an increase Pioneer CEO and Chairman Scott Sheffield said his company is willing pay because having a quality education system in Midland is “very, very important to our 1,000 employees and the company.” Sheffield was one of four business leaders who spoke in support of MISD’s $163 million elementary school bond initiative Thursday in Centennial Plaza.