Articles Posted in oil price collapse

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Pioneer Natural Resources and Parsley Energy sent a letter to the Texas Railroad Commission formally requesting that it institute proration in Texas oil fields. Scott Sheffield and Matt Gallagher concluded:

We thus implore you to act as stewards of Texas’s oil resources and to support rationally tailored actions – consistent with the Commissions state mission – to “enhance development and economic vitality for the benefit of Texans.” As the chief executive officers of the second and tenth largest oil producers in the State of Texas, we are responsible for the employment of thousands of employees by our companies and our contractors. It is on their behalf, as well as other companies that share our concerns, that we submit this request.

Read the letter here: Parsley Pioneer letter to RRC

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