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Pioneer Natural Resources Company, headquartered in Irving, Texas, was a company engaged in hydrocarbon exploration. It operated in the Cline Shale, which is part of the Spraberry Trend of the Permian Basin, where the company was the largest acreage holder. [1] In May 2024, the company was acquired by ExxonMobil.
The deal with Pioneer Natural vastly expands Exxon's presence in the Permian basin, a massive oilfield that straddles the border between Texas and New Mexico. Drilling the Permian accounted for 18 ...
Deepwater wellbore integrity can be defined as the application of relevant engineering techniques and operational measures in deepwater drilling to control related risks during the drilling process, ensuring that deepwater oil and gas wells are always in a safe state throughout their entire life cycle.
During the COVID pandemic, Sheffield petitioned the Texas Railroad Commission to curtail oil production in order to raise oil prices. [12]In May 2024, during its antitrust review of ExxonMobil's acquisition of Pioneer Natural Resources, the Federal Trade Commission (FTC) alleged that Scott Sheffield had illegally colluded with OPEC and OPEC+, a related cartel of oil-producing countries, to ...
Patterson Drilling Company was founded in 1978 by Cloyce Talbott and Glenn Patterson. [1] UTI Energy was formed in 1986 to purchase Universal Well Services, Union Supply Company, Triad Drilling Company, and International Petroleum Services Company. In 2001, Patterson Drilling acquired UTI Energy and renamed the company Patterson-UTI Energy. [3]
The Neil George Safety System (or 5-Point Safety System) is an occupational health and safety program developed for and used in underground mining. The system was developed in 1942 by Canadian engineer Neil George, who at the time was an employee of Inco Limited in Sudbury, Ontario. The program is used throughout Canada and internationally. [1] [2]
The main tool used by this approach is risk assessment. A risk assessment method, based on experimenting and assessing risk ex-post, once the technology is in place. In the context of hydraulic fracturing, it means that drilling permits are issued and exploitation conducted before the potential risks on the environment and human health are known.
Margins matter. The more Pioneer Drilling (ASE: PDC) keeps of each buck it earns in revenue, the more money it has to invest in growth, fund new strategic plans, or (gasp!) distribute to shareholders.