Pioneer Oil and Gas

Pioneer herbal assets enterprise is an enterprise engaged in hydrocarbon exploration in the cline shale, that’s part of the Spraberry fashion of the Permian Basin. Where the organization is the largest acreage holder.

As of December 31, 2019, the enterprise had 1.135 billion barrels of oil equivalent (6.ninety four×109 gj) of proved reserves. Of which 53% turned into petroleum, 25% became herbal gasoline liquids, and 22% become natural gas. In 2019, the business enterprise produced 345 thousand barrels of oil equivalent (2, one hundred ten,000 gj) in step with day. Of which sixty-one % was petroleum, 21% changed into herbal gas drinks. And 18% become herbal gasoline.

History

Pioneer natural resources were created in 1997 by way of the merger of Parker & parsley petroleum enterprise and mesa inc., owned through t. Boone Pickens.

In 2002, pioneer made discoveries in its offshore our UK area, west of Prudhoe Bay, Alaska. in 2008, the pioneer has become the first independent operator to provide oil at the Alaska north slope.

In 2004, pioneer natural sources received evergreen resources in a $2.1 billion transaction. As well as in June 2010, the organization introduced a $1.15 billion midstream joint venture. With reliance industries for property within the eagle ford institution. The enterprise changed into sold to business enterprise product partners for $2.15 billion in 2015.

In April 2012, the corporation acquired charmeuse industrial sands, a silica sand producer, for $297 million.

in may additionally 2013, the agency bought a forty% hobby in about 207,000 net acres (eighty-four,000 net hectares) leased in horizontal wolf camp shale to Sinochem petroleum USA LLC. A subsidiary of Sinochem institution, for $1.7 billion. As well as in October 2013, the agency bought its hobbies in Alaska to Caelus energy Alaska for $550 million.

in 2014, the enterprise sold non-generating property inside the Hugoton basin to line strength for $340 million.

in can also 2016, CEO and chairman Scott d. Sheffield retired and turned into succeeded through timothy dove.

In June 2016, the agency obtained 28,000 acres inside the midland basin for $435 million. As well as in March 2017, the organization offered 2,000 acres in martin county, texas for $266 million.

in February 2019, CEO timothy dove retired.

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