Parsley Energy Inc. will lay off most of its Austin, Texas workforce as part of its sale to Pioneer Natural Resources Co., according to a notice to the Texas Workforce Commission posted on Dec. 11.
Pioneer Natural Resources is buying Parsley Energy in a deal valued around $4.5 billion that is part of a wave of consolidation among U.S. shale producers slammed by pandemic-driven collapse in oil demand.
The Parsley layoffs include 234 workers, though some of those employees will be offered jobs with Pioneer in Las Colinas, Texas or Midland, Texas, a letter to the state agency said. The layoff data is expected to be Feb. 8.
Stuart Turley is President and CEO of Sandstone Group, a top energy data, and finance consultancy working with companies all throughout the energy value chain. Sandstone helps both small and large-cap energy companies to develop customized applications and manage data workflows/integration throughout the entire business. With experience implementing enterprise networks, supercomputers, and cellular tower solutions, Sandstone has become a trusted source and advisor. He is also the Executive Publisher of www.energynewsbeat.com, the best source for 24/7 energy news coverage, and is the Co-Host of the energy news video and Podcast Energy News Beat. Energy should be used to elevate humanity out of poverty. Let's use all forms of energy with the least impact on the environment while being sustainable without printing money. Stu is also a co-host on the 3 Podcasters Walk into A Bar podcast with David Blackmon, and Rey Trevino.
Stuart is guided by over 30 years of business management experience, having successfully built and help sell multiple small and medium businesses while consulting for numerous Fortune 500 companies. He holds a B.A in Business Administration from Oklahoma State and an MBA from Oklahoma City University.
Energy News Beat Contributor Note: The security of our nation’s energy structure is critical requiring immediate policy and possible regulations. Washington (CNN)Federal agencies are investigating at least two possible incidents on US soil, including one […]
Wind capacity in the United States has increased significantly over the past decade, from 40.1 gigawatts (GW) in January 2011 to 118.3 GW at the end of 2020. This wind capacity growth was mostly concentrated […]
Shale oil producers in the southern United States could take at least two weeks to restart the more than 2 million barrels per day (bpd) of crude output that shut down because of cold weather, as […]
We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it.
