Pioneer Natural Resources
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About Pioneer Natural Resources
Industries
Industrial & Manufacturing
Energy
Company Size
1,001-5,000
Company Stage
IPO
Total Funding
N/A
Headquarters
Irving, Texas
Founded
1997
Overview
Simplify's Take
What believers are saying
- Increased investment in carbon capture benefits Pioneer's sustainable energy initiatives.
- Growing demand for natural gas offers revenue opportunities for Pioneer.
- Energy diversification creates new business models and revenue streams for Pioneer.
What critics are saying
- Leadership changes may lead to employee turnover and operational disruptions.
- Ongoing litigation with Mieco poses legal and financial risks for Pioneer.
- FTC's antitrust scrutiny could impact Pioneer's reputation and strategic decisions.
What makes Pioneer Natural Resources unique
- Pioneer leverages digital oilfield technologies for predictive maintenance and operational efficiency.
- Strong natural gas portfolio positions Pioneer as a key player in energy transition.
- Pioneer's focus on ESG criteria enhances its market appeal and sustainability credentials.
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Funding
Total Funding
$0
Below
Industry Average
Funded Over
2 Rounds
Company News
The FTC has finalized a consent order addressing antitrust concerns over Exxon Mobil's acquisition of Pioneer Natural Resources. The order prevents Exxon from appointing Pioneer founder Scott Sheffield to its board and restricts Pioneer employees from joining Exxon's board for five years. Exxon must comply with Clayton Act Section 8 requirements for 10 years. These measures aim to preserve competition in the energy sector and prevent market consolidation.
Mieco then sued Pioneer for breach of contract, challenging the force majeure claim and alleging that Pioneer failed to meet its contractual obligations.
Paulsen, who has over two decades of experience in the energy sector, joins from Pioneer Natural Resources (NYSE:PXD) where he held the role of Senior Vice President of Business Development and Strategy.
Exxon Mobil's Q2 profit rose to $9.24 billion ($2.14/share) from $7.88 billion ($1.94/share) a year earlier, driven by record production in Guyana and the Permian basin, and its $60 billion acquisition of Pioneer Natural Resources. Revenue hit $93.06 billion, surpassing Wall Street's $90.38 billion forecast. Exxon also announced a $4.9 billion acquisition of Denbury Resources. The FTC reviewed and cleared the Pioneer deal in May, barring former CEO Scott Sheffield from the new board.
By comparison, the Federal Trade Commission's collusion case against the former CEO of Pioneer Natural Resources (PXD.N) in relation to the company's merger with Exxon Mobil (XOM.N) looks decidedly symbolic.
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About Pioneer Natural Resources
Industries
Industrial & Manufacturing
Energy
Company Size
1,001-5,000
Company Stage
IPO
Total Funding
N/A
Headquarters
Irving, Texas
Founded
1997
There are no jobs for Pioneer Natural Resources right now.
Find jobs on Simplify and start your career today