DUG Permian, Eagle Ford: Sheffield Says Energy Security Issues Trump ESG Concerns

“Nobody’s going to drop ESG, but energy security has become 10 times more important than ESG,” Pioneer Natural Resources CEO Scott Sheffield told DUG Permian and Eagle Ford attendees.

DUG Permian, Eagle Ford: Sheffield Says Energy Security Issues Trump ESG Concerns

Pioneer Natural Resources CEO Scott Sheffield (right) speaking at Hart Energy's DUG Permian and Eagle Ford Conference on May 18. (Source: Emily Patsy/Hart Energy)

FORT WORTH, Texas—The E&P sector in the U.S. has made such strides in recent years to accommodate shareholder demands for returns and emissions mitigation that ESG matters are taking a backseat to energy security fears, Pioneer Natural Resources CEO Scott Sheffield told attendees of Hart Energy’s DUG Permian Basin and Eagle Ford conference and exhibition on May 18.

Russia’s invasion of Ukraine flipped the narrative two months ago. Part of the fallout is a continent plunged into fuel and power uncertainty, propelling energy security fears above ESG matters in the view of investors and shareholders, he said.

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