Pioneer Natural Resources (PXD) Misses Q3 EPS by 30c on Weak Revenues
PXD Hot Sheet
EPS Growth %: -71.8%Financial Fact:
Exploration and abandonments: 53.29M
Today's EPS Names:
TARO, BRLI, TLB, More
Pioneer Natural Resources Company (NYSE: PXD) reports Q3 EPS of $0.91, 30 cents better than the analyst estimate of $1.21. Revenue for the quarter was $615.78 million, versus the consensus of $664.23 million.
Total exploration and abandonment expense during the fourth quarter is expected to be $40 million to $70 million, including up to $45 million associated with drilling in lower-risk resource plays in the Edwards Trend and Tunisia and $25 million of seismic activity and personnel costs.
The Company also expects to recognize $40 million to $45 million of charges in other expense associated with certain drilling rigs being terminated or stacked as a result of the Company’s low price environment initiatives.
Total exploration and abandonment expense during the fourth quarter is expected to be $40 million to $70 million, including up to $45 million associated with drilling in lower-risk resource plays in the Edwards Trend and Tunisia and $25 million of seismic activity and personnel costs.
The Company also expects to recognize $40 million to $45 million of charges in other expense associated with certain drilling rigs being terminated or stacked as a result of the Company’s low price environment initiatives.
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