FTC Order Bans Former Pioneer CEO from Exxon Board Seat in Exxon-Pioneer Deal
Retrieved on:
Martedì, Maggio 28, 2024
Key Points:
Pioneer Natural Resources
ProPetro Appoints Alex Volkov to Board of Directors
Retrieved on:
Lunedì, Maggio 13, 2024
Mr. Volkov is currently the Transition Executive responsible for planning the integration of Pioneer Natural Resources Company with ExxonMobil's Unconventional business.
Key Points:
- Mr. Volkov is currently the Transition Executive responsible for planning the integration of Pioneer Natural Resources Company with ExxonMobil's Unconventional business.
- Additionally, Mark Berg, who has served as a director on the Board since February 2019 and was previously appointed as Pioneer's designee, will remain on the Board as an independent director.
- We have benefitted greatly from Mark's deep experience over the past five years and look forward to his continued contributions.”
Phillip Gobe, Chairman of the ProPetro Board, said, “It is with great pleasure that we welcome Alex to our Board. - Mark is a valuable member of our Board, and I want to thank him for his continued service to ProPetro.”
ExxonMobil Completes Acquisition of Pioneer Natural Resources
Retrieved on:
Venerdì, Maggio 3, 2024
Exxon Mobil Corporation (NYSE: XOM) today announced it has closed its acquisition of Pioneer Natural Resources Company (NYSE: PXD).
Key Points:
- Exxon Mobil Corporation (NYSE: XOM) today announced it has closed its acquisition of Pioneer Natural Resources Company (NYSE: PXD).
- The merger of ExxonMobil and Pioneer creates an Unconventional business with the largest, high-return development potential in the Permian Basin.
- With the merger closed, ExxonMobil will leverage its Permian greenhouse gas reduction plans to accelerate Pioneer’s Scope 1 and 2 net-zero emissions goal by 15 years.
- ExxonMobil will also apply its industry-leading technologies for monitoring, measuring and addressing fugitive methane to reduce the combined companies’ methane emissions.
Falcon Oil & Gas Ltd - Proposed Fundraising and grant of ORRIs to raise gross proceeds of approximately $8.5 million (£6.8 million)
Retrieved on:
Giovedì, Aprile 18, 2024
ACT, Permian, Sasol, RESPECT, Tanumbirini, IP30, JV, THIS, FOG, Person, Fundraising, Bookrunner, AIM, FCA, Attention, ANY, WERE, Admission, Book building, Origin Energy, Issue, WITH, AS, Porosity, Place, Sale, EUROPEAN UNION, Pioneer Natural Resources, Announcement, Indian stock exchange, VIA, Holding company
Completion of the grant of the ORRIs is subject to agreement of final legal documentation and to submission to the Northern Territory Government, Australia for registration.
Key Points:
- Completion of the grant of the ORRIs is subject to agreement of final legal documentation and to submission to the Northern Territory Government, Australia for registration.
- Falcon is an international oil and gas company focused on the exploration and appraisal of unconventional oil and gas assets, with the current portfolio focused in Australia, South Africa and Hungary.
- In 2020, Falcon Australia farmed down a further 7.5% and Origin agreed to increase the gross cost cap of the work program by A$150.5 million (c.US$97 million) to A$263.8 million (c.US$170 million).
- PE was acquired for over US$7 billion by Pioneer Natural Resources Company (“Pioneer”), itself a leading independent oil and gas company.
Pioneer Natural Resources Responds to FTC Settlement Complaint Filed as Part of Approval of Proposed Transaction with ExxonMobil
Retrieved on:
Giovedì, Maggio 2, 2024
Professional Services, Other Natural Resources, Oil, Gas, Legal, Energy, Natural Resources, Permian, Gasoline, Methane, FTC, Nature, Pioneer, Pioneer Natural Resources, Safety, XOM, ExxonMobil, Supreme court, Natural gas, Health, Bankruptcy, Complaint, Consent, OPEC, Culture, Railroad Commission of Texas, PXD, COVID-19, Growth, Constitutional right, Security (finance)
Notwithstanding, Pioneer and Mr. Sheffield are not taking any steps to prevent the merger from closing.
Key Points:
- Notwithstanding, Pioneer and Mr. Sheffield are not taking any steps to prevent the merger from closing.
- At the same time, Mr. Sheffield and Pioneer believe that the FTC’s Complaint reflects a fundamental misunderstanding of the U.S. and global oil markets and misreads the nature and intent of Mr. Sheffield’s actions.
- During Mr. Sheffield’s career, it was neither the intent nor an effect of Mr. Sheffield’s communications to circumvent the laws and principles protecting market competition.
- Mr. Sheffield also led the effort to curb methane emissions and flaring in the Permian Basin.
Pioneer Natural Resources Announces First Quarter 2024 Earnings News Release Date
Retrieved on:
Giovedì, Aprile 18, 2024
Pioneer Natural Resources Company (“Pioneer”) (NYSE:PXD) today announced its first quarter 2024 earnings news release is scheduled to be issued after the close of trading on the New York Stock Exchange on Thursday, May 2, 2024.
Key Points:
- Pioneer Natural Resources Company (“Pioneer”) (NYSE:PXD) today announced its first quarter 2024 earnings news release is scheduled to be issued after the close of trading on the New York Stock Exchange on Thursday, May 2, 2024.
- Due to the pending merger with ExxonMobil, Pioneer will not host a conference call or webcast to discuss its first quarter 2024 results.
Altria Group, Inc. Announces Retirement of Director Jacinto J. Hernandez From Board of Directors
Retrieved on:
Lunedì, Febbraio 26, 2024
Jacinto J. Hernandez, a director of Altria Group, Inc. (“Altria”), retired from service on our Board of Directors effective February 23, 2024.
Key Points:
- Jacinto J. Hernandez, a director of Altria Group, Inc. (“Altria”), retired from service on our Board of Directors effective February 23, 2024.
- Mr. Hernandez will continue to serve Altria as a strategic advisor under a 5-year advisory services agreement.
- "We thank Jacinto for his service on our Board," said Kathryn McQuade, Altria’s independent Board Chair.
- Trademarks related to Altria referenced in this release are the property of Altria or our subsidiaries or are used with permission.
Pioneer Natural Resources Declares First Quarter Dividend on Common Shares
Retrieved on:
Giovedì, Febbraio 22, 2024
Pioneer Natural Resources Company (NYSE:PXD) ("Pioneer" or "the Company") announced today that its Board of Directors declared a quarterly base-plus-variable cash dividend of $2.56 per common share.
Key Points:
- Pioneer Natural Resources Company (NYSE:PXD) ("Pioneer" or "the Company") announced today that its Board of Directors declared a quarterly base-plus-variable cash dividend of $2.56 per common share.
- The dividend is payable March 22, 2024, to stockholders of record at the close of business on March 4, 2024.
Pioneer Natural Resources Reports Fourth Quarter and Full Year 2023 Financial and Operating Results
Retrieved on:
Giovedì, Febbraio 22, 2024
Pioneer Natural Resources Company (NYSE:PXD) ("Pioneer" or "the Company") today reported financial and operating results for the quarter and year ended December 31, 2023.
Key Points:
- Pioneer Natural Resources Company (NYSE:PXD) ("Pioneer" or "the Company") today reported financial and operating results for the quarter and year ended December 31, 2023.
- Pioneer reported fourth quarter net income attributable to common shareholders of $1.3 billion, or $5.28 per diluted share.
- Cash flow from operating activities during the fourth quarter and full year 2023 was $2.3 billion and $8.4 billion, respectively, leading to free cash flow1 of $1.2 billion for the fourth quarter and $4.1 billion for the full year 2023.
- Due to the pending merger with ExxonMobil, Pioneer will not host a conference call or webcast to discuss its results for the fourth quarter and year ended December 31, 2023.
Energy Transition is Slowing, New Global Study Confirms
Retrieved on:
Giovedì, Marzo 7, 2024
BOSTON, March 7, 2024 /PRNewswire/ -- In 2023, energy companies prioritized oil and gas over new energy areas more than they did in recent years, indicating that the drive for energy transition away from fossil fuels is easing up, according to a global study and survey from L.E.K. Consulting, the global strategy consultancy.
Key Points:
- Energy Sector Investment in Emerging Energy Technologies Shifts as Oil & Gas Industry Refocuses on Core and Decarbonizing Oilfield; Solar and Wind Continue to Grow
BOSTON, March 7, 2024 /PRNewswire/ -- In 2023, energy companies prioritized oil and gas over new energy areas more than they did in recent years, indicating that the drive for energy transition away from fossil fuels is easing up, according to a global study and survey from L.E.K. - Global Energy Study includes qualitative insights from about 40 roundtable discussions as well as quantitative survey data involving about 300 senior executives in multiple sectors of the energy industry, including oil and gas, utilities, renewables and strategic investors.
- "The approach to energy transition investment in the energy industry is moving from aspiration to moderation," said study coauthor Franco Ciulla, Managing Director at L.E.K.
- "While many energy companies are shifting their current priorities when it comes to energy transition, it certainly isn't ending.