Then & Now

Sheffield Ends Run at Pioneer with a Bang, Leaves Company Well-Positioned for New Leaders, an Industrial Info News Alert

SUGAR LAND, TX--(Marketwired - Jan 11, 2017) - Written by John Egan for Industrial Info Resources (Sugar Land, Texas) -- Scott D. Sheffield, the just-retired chairman and chief executive of Pioneer Natural Resources Company (NYSE:PXD) (Dallas, Texas), went out with a bang. His leadership of Pioneer ended at the end of 2016. During the year, Pioneer's stock rose roughly 42%, about even with many of its peer independent Oil & Gas producers. But where Pioneer stood apart from its peers, at least in the third quarter of 2016, was its profitability: Its net earnings of $22 million compared favorably to its peer independent producers, who reported quarterly net losses ranging from $144 million (Noble Energy Incorporated) to $190 million (EOG Resources Incorporated) to $607 million (Apache Corporation) to $830 million (Anadarko Petroleum Corporation) to $1.6 billion (Devon Energy Corporation). Pioneer's third-quarter results benefitted from non-recurring items.

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