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News Breaks
April 24, 2014
08:50 EDTPXD, APLAtlas Pipeline Partners and Pioneer Natural expand Permian Basin partnership
Atlas Pipeline Partners (APL) and Pioneer Natural Resources (PXD) have entered into an agreement to substantially expand Pioneer's commitment to APL in the burgeoning Permian Basin of West Texas. The amendment extends the contractual term for an additional 10 years through 2032 and extends the area of mutual interest in Martin and Andrews Counties. APL will immediately undertake the construction of a new incremental 200 MMCFD cryogenic processing facility in the northern part of the Permian, scheduled to enter service in 2H15. Construction and installation costs for the plant are expected to be $100M-120M net to the Partnership. The majority of the capital will be invested in 2015.
News For APL;PXD From The Last 14 Days
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February 11, 2016
07:48 EDTPXDPioneer Natural guidance looks achievable, says Canaccord
Canaccord noted Pioneer Natural announced a reduction in 2016 activity and said despite the lower rig activity they should still yield double digit growth as their strong balance sheet allows for a high degree of flexibility. Canaccord reiterated its Buy rating and $147 price target on Pioneer Natural shares.
February 10, 2016
19:33 EDTPXDOn The Fly: After Hours Movers
UP AFTER EARNINGS: HubSpot (HUBS), up 12%... CSRA (CSRA), up 12%... Expedia (EXPE), up 11.5%... Tesla (TSLA), up 9.6%... Hortonworks (HDP), up 8.6%... Skechers (SKX), up 8.8%... Cisco Systems (CSCO), up 7.3%... Centurylink (CTL), up 8.4%... O'Reilly Automotive (ORLY), up 5.2%... Kinross Gold (KGC), up 3.7%... Whole Foods Market (WFM), up 2.5%. ALSO HIGHER: Tripadvisor (TRIP) is up 7.1% and Priceline (PCLN) is up 4.5% after Expedia reported its quarterly results. DOWN AFTER EARNINGS: Pilgrim's Pride (PPC), down 10.9%... Cornerstone OnDemand (CSOD), down 3.6%... Mylan (MYL), down 9.4% after reporting quarterly results and announcing that it will acquire Meda Aktiebolag for $9.9B... Zynga (ZNGA), down 8.9%... iRobot (IRBT), down 6.4%... Prudential (PRU), down 1%... Twitter (TWTR), down 3%... Pioneer Natural (PXD), down 2.4%. ALSO LOWER: Franco-Nevada (FNV), down 4.9% after 11.5M share Spot Secondary priced at $47.85... Continental Resources (CLR), down 2.4% after reporting proved reserves of 1.23B Boe at Dec. 31, 2015.
16:14 EDTPXDPioneer Natural sees Q1 production to average 211-216 MBOEPD
Production is forecasted to average 211 MBOEPD to 216 MBOEPD in Q1. Production costs are expected to average $10.50 per BOE to $12.50 per BOE. DD&A expense is expected to average $18.50 per BOE to $20.50 per BOE. Total exploration and abandonment expense is forecasted to be $20M-$30M. Pioneer expects to incur restructuring charges of $10M-$20M when it reports earnings for the first quarter of 2016 as a result of relocating its two pressure pumping fleets from the Eagle Ford Shale to the Spraberry/Wolfcamp. The restructuring charges include relocation and severance payments and other related costs.
16:13 EDTPXDPioneer Natural lowers 2016 capital budget to $2B
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16:11 EDTPXDPioneer Natural reports Q4 adjusted EPS (18c), consensus (30c)
Reports Q4 revenue $1.07B, consensus $818.5M. Pioneer reported a fourth quarter net loss attributable to common stockholders of $623M, or $4.17 per diluted share. Without the effect of noncash mark-to-market derivative losses and other unusual items, adjusted results for the fourth quarter were a net loss of $27M after tax, or 18c per diluted share. Pioneer produced 215 thousand barrels oil equivalent per day in the fourth quarter, of which 53% was oil.
14:32 EDTPXDNotable companies reporting after market close
Notable companies reporting after the market close, with earnings consensus, include Cisco (CSCO), consensus 54c... Tesla (TSLA), consensus 8c... Twitter (TWTR), consensus 12c... Whole Foods (WFM), consensus 40c... Mylan (MYL), consensus $1.27... Expedia (EXPE), consensus $1.00... Prudential Financial (PRU), consensus $2.30... O'Reilly Automotive (ORLY), consensus $2.08... Pioneer Natural Resources (PXD), consensus (30c)... Skechers (SKX), consensus 20c... Zynga (ZNGA), consensus 0c.

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