Pioneer is a great company. I spent a decade there and I truly enjoyed it. Let's be honest though. Part of the success the company had was through pure dumb luck and the shale revolution. Just happened to be in the right assets at the right time. Sorry to say time is up. We are going through this because the company has zero idea how to move forward. Commodity prices are low, most shale basins are drilled up or to expensive to enter, and the world is trying to move on from fossil fuels. We have no clue what to do. So we are trying to scale down our operations to give ourselves time to think instead of blasting through the only asset we can make marginal money with at breakneck speed. We try and project that we have 20 years of drilling inventory. We dont. Fact is we are in the death spiral and i unfortunately dont have confidence in upcoming management to get us out. It may honestly not be their fault. The world is moving on...or thinks it is at the moment. Have yet to see the returns on renewables. That being said....Take the package and smile. Im leaving soon with a generous check. Im sad but I honestly think it will be better in the long run.
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I felt the same!