Pioneer Ramps Up Permian Completion Activity; 2017 Outlook Calls for Double-Digit Growth
Pioneer Natural Resources’ fourth-quarter and full-year 2016 results were highlighted by a ramp-up in completion activity across its Permian properties and a bullish forecast for the company’s 2017 production growth. Pioneer also reported proved reserves of 726 million barrels of oil equivalent, up 9% year over year primarily as a result of additions from the Spraberry/Wolfcamp. At this time, our fair value estimate of $113 and no-moat rating remain unchanged.Pioneer’s fourth-quarter production...
Pioneer Natural Resources is a holding company. Through its subsidiaries, the company is engaged in oil and gas exploration and production. The company explores for, develops and produces oil, Natural Gas Liquids and gas within the United States, with operations in the Permian Basin in West Texas. The company's portfolio of resources are located in the Spraberry/Wolfcamp oil field.
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