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Stock Market & Financial Investment News

News Breaks
January 30, 2013
08:03 EDTPXDPioneer Natural discontinuing divesture process for Barnett Shale properties
Pioneer Natural has discontinued efforts to divest its properties in the Barnett Shale. Pioneer commenced a divestiture process for these properties in September 2012. Several bids were received in December, but none were representative of the value Pioneer places on these properties. As a result, Pioneer will retain operatorship of this asset. Pioneer holds approximately 155,000 gross acres in the play, of which approximately two-thirds are located in the liquids-rich Barnett Shale Combo play. With the discontinuance of the divestment process, the financial and operating results for these properties will be reclassified back to continuing operations beginning in Q4 2012.
News For PXD From The Last 14 Days
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July 1, 2015
18:20 EDTPXDShell CEO says Opec production has pressured shale companies, FT reports
In an interview with the Financial Times, Shell (RDS.A, RDS.B) CEO Ben van Beurden said Opec's decision not to cut production has sent a "powerful signal... to shale oil companies as well as their financiers that they cannot forget the price risk. The industry will remember it for some time." The CEO noted that industry efforts to boost efficiency and cut costs should keep production going for "a while to come... until the sweet spots start running out." Publicly traded companies in the space include Chevron (CVX), Anadarko Petroleum (APC), Exxon Mobil (XOM), BP (BP), Marathon Oil (MRO), BHP Billiton (BHP), ConocoPhillips (COP), Pioneer Natural Resources (PXD), EOG Resources (EOG), Concho (CXO), Whiting Petroleum (WLL), and Continental Resources (CLR). Reference Link

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