Pioneer Natural Resources (PXD) has received quite a bit of attention from Zacks.com users lately. Therefore, it is wise to be aware of the facts that can impact the stock's prospects.
After years of warnings about peak oil, we don’t hear too much about that possibility anymore. The world is actually awash in fossil fuels and ongoing advances in exploration and exploitation means accessing reserves will be a continuing pursuit. But the world also needs oil and natural gas. Although alternative fuel sources are growing, they cannot meet global energy demand. A new oil and gas boom is coming. Both the International Energy Agency (IEA) and OPEC forecast strong demand for fossil f
The company said full-year total production averaged 715,000 barrels of oil equivalent per day (boepd), ahead of its prior guidance of between 708,000 and 713,000 boepd. Pioneer attributed the strong production to longer lateral wells, and said more than 125 wells with lateral lengths of 15,000 feet or greater were placed on production last year. Exxon agreed in October to buy Pioneer in an all-stock deal to bolster the largest U.S. oil company's production in the Permian Basin.