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Pioneer Natural Resources Co PXD Stock Quote

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Morningstar‘s Stock Analysis PXD

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5-Star Price

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Economic Moat

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Capital Allocation

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Pioneer Aims to Return 75% of Its Free Cash Flows

Business Strategy and Outlook

| Dave Meats, CFA |

Pioneer Natural Resources is one of the largest Permian Basin oil and gas producers overall, and is the largest pure play. It has about 800,000 net acres in the play, all of which is located on the Midland Basin side where it believes it can get the best returns. The firm acquired the bulk of its acreage well before the shale revolution began, with an average acquisition cost of around $500 per acre. That's a fraction of what most of its peers shelled out during the land grab at the beginning of the Permian boom, giving the firm a unique advantage. And the vast majority of this acreage is located in the core of the play, where well performance is typically strongest. That gives Pioneer an extensive runway of low-cost drilling opportunities primarily targeting the Wolfcamp A, Wolfcamp B, and Spraberry reservoirs.

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Key Statistics PXD

Company Profile PXD

Business Description

Headquartered in Irving, Texas, Pioneer Natural Resources is an independent oil and gas exploration and production company focusing on the Permian Basin in Texas. At year-end 2021, Pioneer's proven reserves were 2.2 billion barrels of oil equivalent with net production for the year of 612 mboe per day. Oil and natural gas liquids represented 68% of production.

Contact
777 Hidden Ridge
Irving, TX, 75038
T +1 972 444-9001
Sector Energy
Industry Oil & Gas E&P
Most Recent Earnings Jun 30, 2022
Fiscal Year End Dec 31, 2022
Employees 1,932

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