More layoffs to come if oil stays at $40.
What does the future hold for PXD?
5 replies (most recent on top)
The key phrase “when is done correctly”. Not sure that is the case for Pioneer.
Since you bring up the topic of gas EOR ... because gas eor, when done correctly, is a better use of your money than drilling and completing new wells. we will need to go thru a learning curve first. one day, instead of talking about drilling rigs as a proxy for production, we'll be talking about giant a$$ compressors.
We are not going to see $70 oil for a while. So pioneer is doomed while spending tens of millions on “gas eor”, for what?
We won’t survive $70 oil
We won’t survive $40 oil