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Stock Market & Financial Investment News

News Breaks
February 11, 2014
09:38 EDTPXDPioneer Natural sees 2014 production growth 14%-19% from continuing operations
Pioneer Natural is forecasting 2014 annual production growth from continuing operations of 14% to 19% based on planned drilling capital expenditures of $3.0B. The company plans to increase its horizontal rig count from 5 rigs at YE 2013 to 16 rigs by end of Q1 in northern Spraberry/Wolfcamp. Pioneer is targeting 16%-21% compound annual production growth from continuing operations for 2014 to 2016 and expects production to more than double by 2018 compared to 2013. Comments from slides for Q4 earnings conference call.
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April 15, 2014
16:20 EDTPXDCaelus Energy Alaska, Apollo Global announce partnership
Caelus Energy Alaska and affiliates of Apollo Global Management (APO) have formed a strategic partnership to invest in oil and gas properties in Alaska. Caelus has closed its first transaction, the acquisition of Pioneer Natural Resources' (PXD) Alaskan oil and gas business, for $300M in cash, subject to adjustments, plus other consideration. Caelus, headquartered in Dallas has an executive management team led by CEO James C. Musselman and a technical team led by Chief Technical Officer Kenny Goh. Among other things, Mr. Musselman previously led Kosmos Energy, which discovered the 1 billion-plus barrel Jubilee field off the West African coast, and Triton Energy, which was acquired by Amerada Hess for $3.2B. Apollo funds have the opportunity to invest up to $1B in Caelus to develop the company's existing assets and to pursue acquisitions or other additional investments.
12:14 EDTPXDPioneer Natural to recognize noncash loss of approximately $30M
Pioneer Natural Resources announced that the company closed its previously announced sale of its Alaska subsidiary to Caelus Energy Alaska for cash proceeds of $300M, subject to normal closing adjustments, plus other consideration. The company expects to recognize a noncash loss of approximately $30M associated with the sale when it reports earnings for 1Q14.
07:22 EDTPXDGlobal Hunter Securities to hold a conference
1:1 Dallas Energy Day is being held in Dallas on April 15.
April 14, 2014
08:45 EDTPXDPioneer Natural price target raised to $212 from $206 at Howard Weil
Howard Weil raised its price target for Pioneer Natural shares to $212 and keeps a Sector Perform rating on the stock.
07:04 EDTPXDStephens to hold a field trip
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