Number of Dallas-Fort Worth Companies on the Fortune 500 List Grows in 2019

The number of Dallas-Fort Worth companies on the Fortune 500 list grew from 22 to 24 in 2019, with oil and natural gas firms making substantial leaps forward in terms of revenue.Exxon Mobil, one of the world's oil giants, maintained its foothold as the region's largest publicly traded company with $290.2 billion in revenue. It trailed only Walmart nationally.The Irving-based company held steady, even though its stock fell 22% -- Exxon's worst performance since 1981 when the country was in a recession.Another Irving oil company, Pioneer Natural Resources, jumped an eye-popping 164 spots from the previous year's list to land at 333rd with $9.4 billion in revenue. The oil and gas company spent 2018 selling its assets outside of the Permian Basin in what it said was an attempt to focus on the shale play sometimes called a "Super Basin.""Pioneer is probably – of all the Permian pure plays – sitting in the best position in terms of the amount of acreage they own," said Bruce Bullock, director of SMU's Maguire Energy Institute. "As activity continues to expand out there, they're going to benefit exponentially versus the rest of the field."  Continue reading...

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