Irving-based Pioneer Natural Resources lowered its long-term forecast for production in the Permian Basin, according to a report by Bloomberg. Scott D. Sheffield, president and CEO, said Jan. 5 at a conference in Miami that Pioneer now forecasts about 7 million barrels a day by 2030 – down from a previous estimate of 8 million b/d. Sheffield said Pioneer, Chevron and ConocoPhillips will be the only companies producing more than 1 million b/d in Permian after 2030.
Also speaking at the Goldman Sachs energy and technology conference, CEO John Hess of Hess Corp. said U.S. shale production will likely plateau by 2026 at about 13 million b/d.
