Texas Oil Deal Must Navigate Potential Father-Son Conflict

Scott Sheffield is Pioneer CEO, son Bryan is Parsley chairman
Both Permian producers are in talks about an all-stock merger

Pioneer CEO on Parsley Acquisition, Oil Prices

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By David Wethe and Kevin Crowley

October 20, 2020 at 6:24 PM UTC

Updated on

October 21, 2020 at 3:05 PM UTC

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The latest merger between two U.S. shale producers is dealing with an unusual family dynamic that has raised concerns about a potential conflict of interest.

Pioneer Natural Resources Co. said Tuesday it agreed to buy rival Parsley Energy Inc. for $4.5 billion in stock. Pioneer is run by Scott Sheffield while his son Bryan is Parsley’s founder and chairman.