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News Breaks
January 20, 2014
16:37 EDTPXDPioneer Natural says Q4 production averaged 173 MBOEPD
Pioneer Natural Resources reported Q4 production and the production impact attributable to the previously-announced severe winter weather in Texas. Pioneer’s Q4 production averaged 173 thousand barrels oil equivalent per day. This volume excludes Alaska operations that will be reflected as discontinued operations in Q4. The company estimates that Q4 production was curtailed by approximately 6 MBOEPD. Approximately 5 MBOEPD of this curtailment was related to heavy icing and low temperatures across Pioneer’s leasehold position in the Spraberry/Wolfcamp. The company said, "When the severe weather first occurred in late November, over 50% of Pioneer’s more than 7,000 wells in the Spraberry/Wolfcamp area were shut in. All of the wells that were affected have been returned to production and the Company does not anticipate any adverse effects on future well performance due to the downtime. Drilling and completion operations have returned to normal. This includes Pioneer’s horizontal drilling program that currently has 8 rigs operating in the southern Wolfcamp joint venture area and 9 rigs operating across the Company’s northern acreage. Pioneer expects to have more than 10 rigs operating on its northern acreage by the end of the first quarter. The remaining curtailed production in the fourth quarter was due to facility freeze-ups in Pioneer’s Eagle Ford Shale, Barnett Shale Combo and West Panhandle areas. Operations in these areas have also returned to normal."
News For PXD From The Last 14 Days
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August 4, 2015
16:48 EDTPXDPioneer Natural sees compound annual production growth of 15%+ from 2016-18
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16:47 EDTPXDPioneer Natural backs production growth forecast for 2015 of 10%+,
Pioneer Natural is maintaining a production growth forecast for 2015 of 10%+, reflecting an increase in forecasted Spraberry/Wolfcamp production growth from 20%+ to 22%-24%, offset by a reduction in the full-year growth rate for the Eagle Ford Shale. Pioneer's latest plans for 2015 include continuing to protect the company's cash flow through the use of commodity derivatives, including maintaining coverage for 2015 forecasted oil production at approximately 90%, with most of the volumes protected by swaps at $71 per barrel, increasing coverage for 2016 forecasted oil production to approximately 75% using three-way collars and maintaining coverage for forecasted gas production of approximately 85% for 2015 and approximately 65% in 2016 using a combination of swaps and three-way collars to protect volumes in both years; The company said it is maintaining a strong balance sheet, noting net debt-to-book capitalization was 23% at the end of the second quarter and, with the closing of the Eagle Ford Shale Midstream sale in July, cash on hand at the end of July was approximately $700M.
16:45 EDTPXDPioneer Natural reports Q2 adjusted EPS 10c, consensus 5c
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15:13 EDTPXDPioneer Natural technical comments before earnings news
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07:56 EDTPXDPiper Jaffray to hold a conference
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July 22, 2015
08:37 EDTPXDPioneer Natural affirms FY15 production growth forecast of at least 10%
Pioneer is maintaining its full-year 2015 production growth forecast at 10%+. Although production growth in the Eagle Ford Shale is now forecasted to be nominal in 2015, production from the Spraberry/Wolfcamp is forecasted to grow by 22%-24% in 2015 compared to the 20%+ previously forecasted. The reduction in the Eagle Ford Shale growth rate is primarily due to the delays in placing wells on production and performance issues during the first half of 2015, while the increase in the Spraberry/Wolfcamp growth rate reflects the continuing strong performance of the horizontal drilling program, especially in Pioneer’s northern acreage.
08:36 EDTPXDPioneer Natural Resources reports 197,000 BOEPD in Q2
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06:28 EDTPXDPioneer Natural coverage assumed with an Outperform at Credit Suisse
Target $186.

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