Pioneer will sell $1B in stocks and pipeline to ride out falling oil prices

Pioneer Natural Resources will continue operating in the Permian Basin despite falling crude oil prices by selling a pipeline in the Eagle Ford Shale, CEO Scott Sheffield said in a conference call.The Irving-based company also plans a $1 billion stock offering.”It allows Pioneer to really prudently develop its assets in what I believe could easily be a $70 to $80 per barrel oil price environment over the next two years,” said Scott Sheffield, CEO of Pioneer.

via Pioneer will sell $1B in stocks, pipeline to ride out falling oil prices – Dallas Business Journal.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s