This Irving Shale Explorer Is Acting Like a Tech Startup

Pioneer Natural Resources Co. just announced shale's version of a moonshot. By 2026, it aims to be pumping out 1 million barrels of oil equivalent a day -- four times last year's total.Growing at 15 percent a year, compounded, for a decade is the sort of promise usually reserved for Silicon Valley, not West Texas. Having unveiled thumping results on Wednesday morning, though, Pioneer can afford to be expansive.Indeed, as with many a tech startup, there's a self-fulfilling logic to Pioneer setting seemingly impossible goals. Consider this line from a response by CEO Tim Dove to an analyst question about those growth plans on Wednesday morning:  Continue reading...