Natural Resources >> CEO Interviews >> September 9, 1998
SCOTT D. SHEFFIELD went through high school in Tehran, Iran, the son of
an ARCO executive. Upon graduating from the University of Texas, he
began his career as a reservoir engineer with AMOCO. In 1979, Mr.
Sheffield became the fifth employee of Parker & Parsley Petroleum in
Midland, Texas, where he was the sole staff engineer. He was named CEO
in 1984 of Parker & Parsley, then a $32 million company, and was elected
Chairman of the Board in 1991 of the newly listed public company. Parker
& Parsley was included in Newsweek's 1993 list of fastest growing
companies in America and reached $1.5 billion in size by 1997. He is
known for his informal management style and his team approach to
decision-making. Mr. Sheffield has been active in the mergers and
acquisitions arena, culminating in the formation of Pioneer Natural
Resources. He has been President and CEO of Pioneer since August of
1997. The merger of Parker and Parsley with MESA formed one of the
largest exploration and production companies in the U.S. Pioneer
operates not only in the U.S., but also in Canada, Argentina, Gabon and
South Africa with over 762 million barrels of oil equivalents in
reserves. Appointed to the National Petroleum Counsel in 1994, Mr.
Sheffield also serves on various industry related and education -
oriented boards. He and his wife reside in Dallas, Texas. In his spare
time, he enjoys snow skiing, fly-fishing and traveling worldwide. Profile
you anticipate in your sector of the energy market over the next several
years?
Mr. Sheffield: Obviously we've seen a
