Thread regarding Pioneer Natural Resources Co. layoffs

THE RETURN OF THE PRODIGAL SON

I think PNR CEO S. S. let the cat out of the bag when he spoke publicly about the petroleum industry was in for a major consolidation if the downturn continues. Well oil stayed pretty much below 40 and if your read the WSJ the consolidation started two weeks ago. There was an article yesterday think in WSJ companies purchase their peers as defensive measure against getting purchased themselves or pro business a harbinger of the future the feeling that the bottom is near and it is a good opportunity to buy. Dallas Morning News mentioned the SEC regulatory "sniff test", on "A Son From another Mother" pretty sure this will need to be vetted by the Federal Government for proof that it was an arms length deal. Note Matt was added to the Pioneer Board, as was Ray his son was not. I suspect this was SS exit strategy and the heir apparent is Matt. If Matt, he has much to accomplish in a very short time (1.) Quell the rampart executive management disconnect with the remaining Pioneer Employees, (2.) take the long view on cash flow and using it to generate funds for drilling, NO MORE LOANS, (3.) Assure Wall Street that Pioneer is a LONGTERM GOING CONCERN, (4.) fend off the larger sharks that are still swimming in the ancient Permian Sea looking for a tasty meal, and (5.) Get rid of the RULES TO LIVE BY, or at the very minimum make them applicable to all employees and officers, what is good for the goose is good for the gander

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| 1821 views | | 4 replies (last October 22, 2020) | Reply
Post ID: @OP+17xrlc28

4 replies (most recent on top)

Maybe pioneer upgrades @wbg with a parsley employee.

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Post ID: @1lip+17xrlc28

Not my particular experience with those individuals. Maybe not him in particular, but what they allow people to get away with. Besides, appearances are at times misleading.

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Post ID: @dyy+17xrlc28

If KS is the KS I'm thinking about then you are dead wrong. Well... 50% dead wrong.

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Post ID: @eud+17xrlc28

Majority don’t see this deal as M&A. PE and PXD were seen as the same company for years now. PXD took in billions more in debt to save his “prodigal” son.

Cuts will come as reorg 3.0 and the probably 4.0. They will solely focus on factory like execution. No movement within the company for young engineers. The step stool of career ladder is still going to be short.

On the bright side, maybe DP and KS are gone with their minions.

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Post ID: @wbg+17xrlc28

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