New 'mega-independent' Pioneer looks to exploration for next growth phase

Bill Brocato Staff Writer While high-risk exploration is emerging as the newest focus of Pioneer Natural Resources Co.'s growth strategy, development drilling in the Permian basin, as shown, accounted for more than half the wells Pioneer drilled in first half 1998. Photo courtesy of Pioneer. Pioneer Pres. and CEO, Scott Sheffield - "I had a three-legged strategy to build a world-class company that could compete anywhere in the world. We had the acquisitions and the exploitation. What we lacked was the third leg, exploration." [9,893 bytes] Pioneed Executive Vice Pres., Mel Fischer - "I realized several years ago that oil and gas companies don't get ...

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