Scott D. Sheffield

Last updated
Scott D. Sheffield
Born1952or1953(age 70–71) [1]
NationalityAmerican
OccupationBusinessman
TitlePresident & CEO, Pioneer Natural Resources
TermAugust 1997 - December 2016
February 2019 -
Successor Timothy Dove
SpouseKimberly Sheffield
Children5, including Bryan Sheffield

Scott Douglas Sheffield (born 1952/53) is an American businessman and the former president and chief executive officer (CEO) of Pioneer Natural Resources Company.

Contents

Early life

Sheffield received a bachelor's degree in petroleum engineering from the University of Texas. [1]

Career

Sheffield became a director of Pioneer Natural Resources in August 1997, when he became the company's founding CEO. [1] He had been an executive officer of one of its predecessors, Parker & Parsley Petroleum Co., since 1989. [2]

Sheffield joined Parker & Parsley as a petroleum engineer in 1979 and was promoted to vice president-engineering in September 1981, elected president and a director in April 1985, and became chairman of the board and CEO on Jan. 19, 1989. [2]

Before joining Parker & Parsley, Sheffield was a production and reservoir engineer for Amoco Production Co. [2]

At the end of 2016, he retired as CEO to a 2,300-acre ranch near Santa Fe, New Mexico, that he purchased from Jane Fonda. [3]

On Jan. 1, 2017, he was succeeded by Timothy Dove as CEO. [4] [1]

Sheffield held the position of Executive Chairman of Pioneer through 2017, retiring entirely at year-end 2017. [2]

In February 2019, he returned to Pioneer as President & CEO upon the retirement of successor CEO Timothy Dove. [5]

In 2021, Sheffield stepped down as President but continued to served as CEO of Pioneer from 2021 through 2023. [6]

He currently serves on Pioneer's board of directors and as Special Advisor to Pioneer CEO Richard P. Dealy. [7]

He is also on the advisory board of L1 Energy. [8]

Collusion allegations

In May 2024, as part of its antitrust review of the acquisition of Pioneer Natural Resources by ExxonMobil, the Federal Trade Commission (FTC) alleged that Sheffield illegally colluded with OPEC and a related cartel of oil-producing countries known as OPEC+ to raise oil prices at the expense of US households and businesses. [9] In the complaint filed by the FTC, Sheffield is quoted as having said of his own behavior, "I was using the tactics of OPEC+ to get a bigger OPEC+ done." [9]

In response, Pioneer said in a statement that the FTC's complaint "misreads the nature and intent of Mr. Sheffield's actions." [7]

According to Semafor , the FTC also plans to recommend potential criminal charges be brought by the Department of Justice against Sheffield. [10]

Personal life

Sheffield is married to Kimberly, they have five children, and live in Irving, Texas. [11]

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References

  1. 1 2 3 4 "Executive Profile: Scott Douglas Sheffield". Bloomberg. Retrieved 11 August 2017.
  2. 1 2 3 4 "Document". www.sec.gov. Retrieved 2021-06-28.
  3. ↑ "A leader of America's fracking boom has second thoughts". www.msn.com. Retrieved 25 June 2019.
  4. ↑ "Pioneer Natural Resources Company Chairman and CEO Scott D. Sheffield to Retire; Timothy L. Dove Named Successor". www.businesswire.com. 19 May 2016. Retrieved 11 August 2017.
  5. ↑ O’Donnell, Paul (22 February 2019). "Dove to retire; Sheffield returning as CEO". Midland Reporter-Telegram. Retrieved 23 May 2019.
  6. ↑ "Pioneer Natural Resources Announces that Richard P. Dealy Commences Role as Chief Executive Officer". Yahoo! Finance . 2024-01-02. Retrieved 2024-05-04.
  7. 1 2 The Associated Press (2024-05-02). "FTC bars former Pioneer CEO in Exxon Mobil deal, saying he colluded with OPEC". NPR . Archived from the original on 2024-05-02. Retrieved 2024-05-04.
  8. ↑ "Scott D Sheffield - LetterOne". www.letterone.com. Retrieved 11 August 2017.
  9. 1 2 Helman, Christopher (2024-05-02). "FTC Alleges Pioneer CEO Colluded To Boost Oil Prices — Exxon Will Close $65B Acquisition Anyway". Forbes . Archived from the original on 2024-05-02. Retrieved 2024-05-04.
  10. ↑ Hoffman, Liz (2024-05-02). "FTC plans to recommend possible criminal case against ex-Pioneer CEO". Semafor . Archived from the original on 2024-05-02. Retrieved 2024-05-04.
  11. ↑ Grant, Lauren. "Connect". Petroleum & Geosystems Engineering Department. Retrieved 2021-06-28.


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