Permian Play Pioneer Natural Resources Earnings Higher but Misses on Revenue

Pioneer Natural Resources reported better than expected first quarter earnings after the close Wednesday. However, PXD missed estimates with revenue. Pioneer Natural Resources is pure Permian basin play and has been subject to takeover speculation from ExxonMobil in the past month. First quarter oil production averaged near the top end of guidance at 361,316 B/D and still expects full year production at 670,000 To 700,000 BOE/D. Pioneer is the largest oil producers in the Permian Basin and was conservative in … Continue reading “Permian Play Pioneer Natural Resources Earnings Higher but Misses on Revenue”