Pioneer Natural Resources (PXD) Tops Q4 EPS by 50c

Pioneer Natural Resources (NYSE: PXD) reported Q4 EPS of $4.58, $0.50 better than the analyst estimate of $4.08. Revenue for the quarter came in at $4.32 billion versus the consensus estimate of $3.15 billion.

2022 Outlook

The Company expects its 2022 total capital budget3 to range between $3.3 to $3.6 billion. Pioneer expects its capital program to be fully funded from forecasted 2022 cash flow6 of greater than $10.5 billion.

During 2022, the Company plans to operate an average of 22 to 24 horizontal drilling rigs in the Midland Basin, including a three-rig average program in the southern Midland Basin joint venture area. The 2022 capital program is expected to place 475 to 505 wells on production. Pioneer expects 2022 oil production of 350 to 365 thousand barrels of oil per day (MBOPD) and total production of 623 to 648 thousand barrels of oil equivalent per day (MBOEPD).

For earnings history and earnings-related data on Pioneer Natural Resources (PXD) click here.

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