Hungry for More Shale Oil Stock? Pioneer Natural Bets Yes

  • Texas-based shale explorer sees 14% increase in 2016 budget
  • Stock plunges 8.2 percent after new shares priced at discount

Even after almost $400 billion in oil company market value was wiped out by investors fleeing the crude rout, Pioneer Natural Resources Co. is betting there’s ample demand for more shale-drilling shares.

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