Shale oil magnate says Exxon chief ‘threw me under the bus’ after $60bn takeover – Financial Times
Scott Sheffield, former chief executive of Pioneer Natural Resources, alleges that ExxonMobil chief executive Darren Woods abandoned him during regulatory scrutiny of Exxon’s $60bn takeover of Pioneer. Sheffield says Exxon helped facilitate a smear campaign to prevent him joining Exxon’s board, making the dispute unusually public within the closely connected US shale industry.
The Federal Trade Commission barred Sheffield from the board while approving the 2024 acquisition, citing allegations that he had colluded with Opec to raise oil prices during the pandemic. Sheffield denies wrongdoing and says Woods had promised to oppose the FTC’s actions; he was later cleared after the order was reversed in 2025. His claims are detailed in a memoir due to be published on 6 October, while Exxon has not been shown to have accepted the allegations.
- Sheffield accuses Exxon’s chief of betraying him during the Pioneer takeover.
- The FTC initially blocked his proposed Exxon board role.
- Sheffield denies colluding with Opec and was later cleared.