4 Things Pioneer Natural Resources Wants You to Know About What's Really Happening in the Permian Basin
Pioneer Natural Resources (NYSE: PXD) recently reported exceptional second-quarter results after production hit the high end of its guidance range and earnings blew past the consensus estimate. That said, the market pummeled the stock because the company revealed that drilling delays would cause production to come in toward the low end of its full-year guidance range. Furthermore, Pioneer noted that its wells were turning out to be gassier than expected.
That said, CEO Tim Dove was open and honest on the accompanying conference call by directly addressing the issues and explaining what went wrong and how it will impact the company over the longer term. Here are four crucial points he made about Pioneer's operations in the Permian Basin.
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Source: Fool.com