• CERAWeek
  • March 18 - 22, 2024

Rich Dealy

Pioneer Natural Resources

President & Chief Operating Officer

Rich Dealy is the company’s President and Chief Operating Officer, a position to which he was appointed in January 2021. A tenured Pioneer leader, Dealy served as Executive Vice President and Chief Financial Officer from November 2004 through December 2020. Prior to that he held positions of increasing responsibility, including Vice President and Chief Accounting Officer from February 1998 to November 2004, and Vice President and Controller from August 1997 to January 1998. Dealy joined Parker & Parsley, a predecessor of Pioneer, in July 1992, holding several financial leadership positions with the company. Prior to his time with Parker and Parsley, he was employed by KPMG. Dealy is a member of Pioneer’s Executive Committee. Dealy has a Bachelor of Business Administration in Accounting and Finance from Eastern New Mexico University. He is a Certified Public Accountant and a member of American Institute of Certified Public Accountants and the Texas Society of Certified Public Accountants.

Sessions With Rich Dealy

Tuesday, 7 March

  • 11:55am - 12:45pm (CST) / 07/mar/2023 05:55 pm - 07/mar/2023 06:45 pm

    US Oil & Gas: How can it continue to outperform?

    Upstream Oil & Gas
    The combination of surging prices, a new business model and efficient operations in low-risk areas produced dramatic success for North American oil and gas in 2021 and 2022. After years of poor results, the record earnings and free cash flow drove outperformance when compared to every other sector of both equity and debt markets and spread beyond producers to benefit midstream and service sector players. However, sustaining outperformance is a difficult challenge, and this dialogue will explore the strategic issues related to how leading companies plan to add value from here. What role has the new business model—capital discipline and free cashflow maximization—played in the success of U.S. oil and gas? Will this approach work in the future, or will it have to evolve? How much scope exists to add value? Where are we on efficiency gains? Cost reduction? New resources? How deep is the inventory of undrilled wells? Have the best wells been drilled? Despite impressive share performance, oil and gas companies still trade at compressed multiples. What changes that? How do regulatory developments such as the U.S. Inflation Reduction Act (IRA) change the future of traditional energy companies? Is the push to decarbonize a threat, an opportunity or a distraction, and how fast and how far can decarbonization go? Is there value for North American companies in integrating through the oil and gas chain, LNG, midstream or processing?