Pioneer Misses, but Volumes up – Analyst Blog
Zacks Market Commentaries (November 5th, 2009) Writes:
Pioneer Natural Resources Company (PXD) reported its third quarter results of 2 cents per share, well below than the Zacks Consensus Estimate of 6 cents and year-earlier quarter earnings of 91 cents. Before adjusting one-time items, loss per share was 6 cents.
Despite the increased production volumes and lower production expenses, earnings were down due primarily to weak realized prices. Revenue for the quarter was $410.1 million, down nearly 32% from the year-earlier level.
Total production for the quarter averaged approximately 113 thousand barrels oil equivalent per day (MBOE/d), up 2% year over year, reflecting the strong performance of Pioneer’s low-decline assets. Oil production averaged at 31.7 thousand barrels per day (MBbl/d), up approximately 7% year over year. Natural gas liquids production slightly decreased to 18.6 MBbl/d. Natural gas production also modestly increased to 374.2 MMcf/d.
On an oil equivalent basis, average realized price was ...
Tags for this Post:
Alaska, Analyst, Average natural gas price, barrels oil;, cent;, Investing Lessons, natural gas liquids production, natural gas production, Oil, oil development program, Oil Prices, oil production, oil-equivalent basis, Pioneer Natural Resources Company, South Africa, Stocks to Watch, Tunisia, USD, Zacks Market Commentaries
Alaska, Analyst, Average natural gas price, barrels oil;, cent;, Investing Lessons, natural gas liquids production, natural gas production, Oil, oil development program, Oil Prices, oil production, oil-equivalent basis, Pioneer Natural Resources Company, South Africa, Stocks to Watch, Tunisia, USD, Zacks Market Commentaries


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