Pioneer Natural Resources Co.’s top executive said on Aug. 3 that U.S. shale growth was “not going to grow that much” in the coming years as oil and gas companies continue to focus on capital discipline and shareholder returns.
Pioneer CEO Scott Sheffield anticipates output in the Permian Basin to grow roughly 5%—in line with his own company’s planned production increases—over the coming years, while other basins will be flat or face declines, he said during a second-quarter conference call.
Irving, Texas-based Pioneer is the largest producer in the Permian Basin. It grew its holdings there with the acquisitions of Double Point Energy and Parsley Energy this year.
Sheffield on Aug. 3 said the company was not eying any additional large acquisitions in the Midland basin. The company this week announced an inaugural variable dividend.
Shares of Pioneer were up 6.7% in mid-morning trading to $151.83. The bump in its stock price came even as U.S. oil futures were off about 1.25% at $70.37 per barrel.
Recommended Reading
CPP Wants to Invest Another $12.5B into Oil, Gas
2025-03-26 - The Canada Pension Plan’s CPP Investments is looking for more oil and gas stories—in addition to renewable and other energies.
Shell Raises Shareholder Distributions and LNG Sales Target, Trims Spending
2025-03-25 - Shell trimmed its annual investment budget to a $20 billion to $22 billion range through 2028 after spending $21.1 billion last year.
Stonepeak Backs Longview for Electric Transmission Projects
2025-03-24 - Newly formed Longview Infrastructure will partner with Stonepeak as electric demand increases from data centers and U.S. electrification efforts.
More Players, More Dry Powder—So Where are the Deals?
2025-03-24 - Bankers are back and ready to invest in the oil and gas space, but assets for sale remain few and far between, lenders say.
RWE Slashes Investment Upon Uncertainties in US Market
2025-03-20 - RWE introduced stricter investment criteria in the U.S. and cut planned investments by about 25% through 2030, citing regulatory uncertainties and supply chain constraints as some of the reason for the pullback.