Ex-Pioneer CEO Says FTC Wrongly Vilified Him Over Exxon Deal

Sheffield asks agency to vacate order keeping him from board
FTC ‘straining’ to criticize Exxon-Pioneer deal: filing

Scott Sheffield
Photographer: Aaron M. Sprecher/Bloomberg

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By Mitchell Ferman and David Wethe

May 28, 2024 at 3:33 PM UTC

Updated on

May 28, 2024 at 5:41 PM UTC

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Former Pioneer Natural Resources Co. Chief Executive Officer Scott Sheffield says federal regulators mischaracterized facts and wrongly vilified him in saying he tried to collude with OPEC to prop up crude prices.

Sheffield, a key figure in the rise of the US shale industry, filed a request Tuesday with the Federal Trade Commission asking the agency to vacate its proposed consent order for Exxon Mobil Corp.’s $60 billion takeover of Pioneer.