Got to be honest. The thought of losing Pioneer Natural Resources makes me nervous.
Exxon has purchased Scott Sheffield’s baby and one of the largest producers in West Texas in a $60 billion merger that has the Permian buzzing. Still, losing Pioneer isn’t something to celebrate. This is a company that knew the value of being an effective corporate citizen. Pioneer believed in Midland and the Permian. Pioneer also believed in this region’s future.
When others were hesitant to speak out about what was happening, Pioneer led the way. In 2012, Sheffield was one of two oil industry leaders to speak out about the need to pass the largest school bond in Midland’s history. Sheffield also opened the eyes of many in the city about the nature of the impending boom that would impact the city and region.
Even though some rolled their eyes to predictions of 150,000 population (and higher) inside the city and county, history has shown Sheffield and Pioneer to be on the mark.
Pioneer invested in Midland. There’s hasn’t been a larger taxpayer over the years, and one can also bet countless nonprofits benefitted from Pioneer’s philanthropy. Even today, the Reporter-Telegram is a proud partner with Pioneer, which sponsors our weekly Oil Report. Pioneer understands that a company must re-invest in its community. Midland has been better because of companies like Pioneer.
The news Wednesday also reminds us that the days of the larger independent with established Midland ties may be in the rearview mirror. It was around three years ago, that Pioneer, Concho and Diamondback gave Midlanders an expectation that someone had this community’s back. After the t’s are crossed and i’s dotted on Exxon’s largest acquisition in decades, only Diamondback will be left.
The Reporter-Telegram still appreciates ConocoPhillips, EOG, Oxy and Chevron, but with the creation of the Permian Strategic Partnership and its focused giving on larger-scale issues, it feels as if there is less philanthropic competition. After ConocoPhillips acquired Concho, I wrote, “We believed Midland was better because of the competitive philanthropy that happened with smaller fish wanting to show nonprofits they could outperform other companies. With fewer players, there is less competition.”
Maybe that will not be the case. Maybe the total contributions distributed to Midland’s nonprofits will be on par to pre-COVID levels, but it seems forgivable for some of us long-timers to worry about what’s next without Pioneer and Concho helping to set the table.
Midland will always be a different place – arguably the most unique smaller metropolitan area in Texas – because of the investment made by the oil and gas industry. There is also a lengthy list of foundations that nonprofits depend on to complement support provided from generous Midlanders.
We see that recent community initiatives have been better whether it was the $50 million attempt to revitalize Hogan Park. Pioneer sought to make that happen. Pioneer also worked with the City of Midland on a $125 million-plus public/private project to improve its wastewater facility.
We know that future partnerships like the Midland Athletic Syndicate’s $30 million indoor athletic will happen because of our philanthropic support system. Thank you, Diamondback Energy, for your $7.5 million donation to the Midland Athletic Syndicate. We know other independents are making their own impact to help Midlanders and their quality of life. Thank you, CrownQuest officials for your work at Green Acres and the Zoo Midland project.
Thank you to all others who will step up to make future projects happen – projects like the $30 million Beal Soccer Complex. You show the value of an oil industry member that is a valued community partner.
Exxon, here’s hoping you live up to the standard currently in place in Midland. There are large shoes to fill.
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