Pioneer’s Leadership Transition

In spite of and because of recent OPEC activity to cut production, oil markets have continued to be volatile in terms of price. In late November, NYMEX crude oil futures were at $45, and today they hover around the $50 mark. In the U.S., the Permian Basin continues to grow oil production. The Energy Information Administration’s DPR projects a 27,000 barrels per day increase from November to December in the Permian, with the Niobrara region increasing by 2,000 barrels per day. In the Bakken and Eagle Ford, production is still declining. The following link is a short feature about Pioneer, a leading Permian producer, and Tim Dove’s transition as the new incoming CEO:

• “How Tim Dove Will Move Pioneer Natural Resources Forward” published in D CEO, December 2016. (The chart caption should say shale oil, not oil shale.)