Pioneer’s mission is to be America’s leading independent energy company, focused on value, safety, the environment, technology and our greatest asset, our people. The company’s long-term investment thesis is centered around the following strategic objectives:
Maintaining a strong balance sheet and financial flexibility
Returning free cash flow to shareholders via a strong and growing base dividend, a variable dividend and share repurchases
Utilizing the company’s scale and technology advancements to reduce costs, improve efficiency and create value
Delivering profitable production and reserve growth through drilling, completion and production improvement activities
Setting high expectations for employees and contractors to perform their jobs in a safe manner
Maintaining industry-leading sustainable development and environmental stewardship efforts that mitigate climate change risks
Adopting leading governance and employee engagement practices, including embracing diversity and inclusion and supporting the communities in which we live and operate
Pioneer’s long-term strategy is anchored by our interest in the long-lived Spraberry/Wolfcamp oil field located in the Midland Basin in West Texas, which has an estimated remaining productive life in excess of 50 years.