Sheffield, who has donated to Republican campaigns including that of former presidential candidate Jeb Bush, added that Pioneer became the number five overall S&P stock and the number one energy stock during the Obama administration, before the 2014 downturn.

"It just shows you," he said during an interview at the Center for Strategic and International Studies.

He made his comments in the same week in which the Republicans ratified a platform that includes opening up more land for exploration, rejects a carbon tax and promises to undo the Obama administration's environmental regulations.

Sheffield