Dallas-based Pioneer Natural Resources said Richard P. Dealy started his new role as CEO, and Scott D. Sheffield is now special advisor to the CEO as of Jan. 1. Sheffield retired Dec. 31, 2023. Both will continue to serve on Pioneer’s Board of Directors. Dealy previously was president and COO since January 2021 in a 30-year career at Pioneer. While he was COO, Pioneer became the largest oil producer in Texas, and he successfully integrated the acquisitions of Parsley Energy and Double Point Energy. Sheffield said, “Richard is a disciplined, focused and enthusiastic leader. He has been a major reason for our success.”
Tuesday’s announcement comes as Pioneer awaits its $64.5 billion merger with ExxonMobil reported in October 2023. Dealy told Midland Reporter Telegram he expects Exxon’s acquisition of Pioneer to be completed in 2024. “My focus is directed toward continuing to work alongside our 2,000 dedicated employees to execute on our program and deliver value to our shareholders… We are taking steps to plan for an integration with ExxonMobil… We continue to operate as two independent companies until the deal closes.” Pioneer plans to grow annual oil production between three and five percent.
Dealy served as Pioneer’s executive vice president and CFO from 2004 to 2020. A graduate of Eastern New Mexico University, he is a member of the American Exploration and Production Council.