Liam Denning, Columnist

Pioneer Puts On Its Hoodie

Its moonshot production target can help attract capital.

February 8, 2017 at 7:11 PM UTC

Liam Denning is a Bloomberg Opinion columnist covering energy. A former banker, he edited the Wall Street Journal’s Heard on the Street column and wrote the Financial Times’s Lex column.

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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.