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.
Friday’s jobs numbers threw everyone for a loop. But they were unambiguously good for the oil and gas business: Payrolls jumped by more than 12,000 in March, the biggest monthly gain in more than 30 years of […]
Larry Fink, chief executive of the world’s biggest asset manager BlackRock , warned the companies it invests in on Tuesday they will need to show a game plan for surviving in a world aiming for […]
Energy News Beat Publishers Note (ENB): Interesting opinion from Forbes that hits on the key issue, there is not a well thought out energy plan. The only way to achieve the goal to get over […]
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.
