Pioneer Natural Resources Completes Acquisition of Parsley Energy Following Stockholder Approvals
édité le 13/01/2021 - Plus de news de Pioneer - Voir la fiche entreprise de Pioneer
Pioneer Natural Resources Company announced that Pioneer has completed its previously announced acquisition of Parsley Energy, Inc. (NYSE:PE) (Parsley) following the approval by Pioneer and Parsley stockholders of all proposals necessary for completing the all-stock transaction.
At the special meeting of Pioneer stockholders held today, more than 99% of the shares of Pioneer common stock voting at the special meeting were cast in favor of the issuance of Pioneer common stock in connection with the transaction. At the special meeting of Parsley stockholders held today, more than 99% of the shares of Parsley common stock voting at the special meeting (and approximately 89% of the total outstanding shares) were cast in favor of the transaction.
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The most effective and economically beneficial way to reduce flaring is through the construction of new pipelines to ship associated natural gas to market – a fact that received unanimous agreement during a recent panel discussion on the Permian Basin hosted by Rice University’s Baker Institute.
The panelists – which included Rystad Energy’s Mike McCormick, the Energy Defense Fund’s (EDF) Colin Leydon and Mark Agerton, a nonresident scholar of the Baker Institute’s Center for Energy Studies – spent a large portion of time discussing Texas’ proposed flaring regulations and the important role that infrastructure can play in reducing flaring activities.
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Pioneer Natural Resources Compa with ticker code (PXD) now have 28 analysts covering the stock. The analyst consensus points to a rating of ‘Buy’. The target price ranges between 175 and 95 calculating the mean target price we have 128.07. With the stocks previous close at 114.43 this indicates there is a potential upside of 11.9%. There is a 50 day moving average of 93.77 and the 200 day moving average is 96.12. The market capitalisation for the company is $18,762m. You can visit the company’s website by visiting: http://www.pxd.com
Pioneer Natural Resources Company operates as an independent oil and gas exploration and production company in the United States. The company explores for, develops, and produces oil, natural gas liquids (NGLs), and gas. It has operations primarily in the Permian Basin in West Texas. As of December 31, 2019, the company had proved undeveloped reserves and proved developed non-producing reserves of 39 million barrels of oil,