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News Breaks
March 4, 2013
17:29 EDTPXDFitch upgrades Pioneer Natural to 'BBB-', outlook revised to Stable
Fitch Ratings has upgraded the ratings on Pioneer Natural Resources to 'BBB-' from 'BB+'. The rating outlook is Stable. Pioneer's ratings and Stable outlook are supported by the company's long-lived onshore reserve base, consistent production growth, and valuable leasehold acreage positions in key oil and liquids basins, the Permian and the Eagle Ford. Concerns include relatively high leverage for an investment grade exploration and production company, high capex investment required to fund growth, and the risk of a macroeconomic scenario that involves materially and persistently lower oil prices in the long run.
News For PXD From The Last 14 Days
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July 1, 2015
18:20 EDTPXDShell CEO says Opec production has pressured shale companies, FT reports
In an interview with the Financial Times, Shell (RDS.A, RDS.B) CEO Ben van Beurden said Opec's decision not to cut production has sent a "powerful signal... to shale oil companies as well as their financiers that they cannot forget the price risk. The industry will remember it for some time." The CEO noted that industry efforts to boost efficiency and cut costs should keep production going for "a while to come... until the sweet spots start running out." Publicly traded companies in the space include Chevron (CVX), Anadarko Petroleum (APC), Exxon Mobil (XOM), BP (BP), Marathon Oil (MRO), BHP Billiton (BHP), ConocoPhillips (COP), Pioneer Natural Resources (PXD), EOG Resources (EOG), Concho (CXO), Whiting Petroleum (WLL), and Continental Resources (CLR). Reference Link

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