Scott Sheffield, 70, built Pioneer into Texas’ largest oil producer, with more than 600,000 barrels of oil equivalent flowing from its wells each day. He.
Pinnacle Midstream develops Dos Picos gas-processing facility in Midland Basin bizjournals.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from bizjournals.com Daily Mail and Mail on Sunday newspapers.
Pioneer Natural Resources says it will be Permian Basin s biggest producer with $6 4 billion purchase of DoublePoint dallasnews.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from dallasnews.com Daily Mail and Mail on Sunday newspapers.
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Two major natural gas developments were announced in the Permian Basin as fossil fuel market continued to recover from COVID-19 pandemic with oil prices crossing the $50 per barrel threshold for the first time since the health crisis began in early 2020.
In April 2020, just months after COVID-19 was discovered in the U.S., the resulting health crisis and travel and business restrictions led to an historic decline in fuel demand and the price of oil plummeted below $0 per barrel for the first time in history.
The market struggled to recover throughout the rest of the year, climbing to the $40 to $45 range but unable to cross the $50 per barrel mark most operators require to be profitable.