Pioneer Natural Resources

By danhelling

  • Lowered Forcast due to shutdown of Gulf of Mex

    180,000 to 185,000 barrels of oil equivalent per day from 185,000 to 200,000. The lowered outlook is a result of production shutdowns in the Gulf of Mexico from water encroachment and weather. The oil and gas company plans to initiate drilling in the Falcon Corridor in the Gulf of Mexico during the first half of 2005. The stock closed Friday up a penny at $34.30.

  • +50M in CAPEX

    aid it plans capital expenditures of $900 million to $950 million in 2005, up 12 percent from 2004 levels, with about 75 percent of the money earmarked for development activities and 25 percent allocated for exploration. The oil and gas company expects to drill about 800 development wells in 2005 and 20 higher-impact exploration wells. The stock closed Monday up 29 cents at $33.60.

  • Crude drops to $48.84/Barrel

    Crude for March delivery closed at $48.84 a barrel, up 6 cents, after trading as high as $49.65

  • $300M Buy back stock

    aid its board has approved a program to repurchase up to $300 million worth of its common stock, or roughly 6 percent of its outstanding shares. The Dallas oil and gas company also said it has sold two percent of its total company reserves, roughly 20.5 million barrels of oil equivalent reserves, through two volumetric production payments, yielding total proceeds of $593 million. The company also forecast earnings of 66 to 69 cents per share for the fourth quarter, ahead of Wall Street's consens

  • Sells $207M Canadian Assets

    aid Thursday its Canadian subsidiary would sell its Martin Creek, Conroy Black and Lookout Butte oil and gas properties to Ketch Resources Ltd. [s:ca:: kerun] for about $207 million. Pioneer shares fell 90 cents Wednesday to $42.62.

  • Buys Permian Basin for $177

    said it has an agreement to buy reserves in the Permian basin and South Texas for $177 million. Pioneer estimates that it will invest approximately $400 million over the next five years to develop the acquired proved reserves and expects to close the deal within 30 days.

  • Katrina Hurricane

    Monday that daily net production of 65 million cubic feet of gas and 5,000 barrels of oil has been shut in as a result of Hurricane Katrina http://www.marketwatch.com/news/story/pioneer-65-mmcf-gas-5k/story.aspx?guid={6D8D88A9-A31B-4AC0-9180-2AFE753D9717}&dateid=38593.6626713773-840973533

  • Sells Assets Tierra del Fuego $675 Million

    Pioneer Natural Resources Co. (PXD
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    PXD) said Tuesday it has agreed to sell all of its operations in Argentina to Apache Corp. (APA
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    APA) for $675 million in cash. The sale is part of Pioneer's plan to divest its non-operated Tierra del Fueg

  • Replacement of 118% from 2005 by +80M Barrels of Reserves

    PXD said Wednesday that it replaced 118% of its production in 2005 by adding 80 million oil-equivalent barrels of proved reserves at a cost of $15.98 per barrel. As of year-end, the Dallas-based oil and gas producer said it had 987 million oil-equivalent barrels or 5.9 trillion cubic feet of natural gas equivalent. To determine the value of its proved reserves -- $10.3 billion -- Pioneer used $61.04 per barrel of oil and $10.08 per thousand cubic feet of gas

  • + $200 to Capital Budget

    PXD said late Wednesday it has approved a 2006 capital budget of $1.3 billion, an increase of $200 million from last year. The Dallas-based oil and gas company said over 80% of the capital budget is directed toward onshore low-risk North American activities.

  • PXD Settles $32M royalties suit

    Pioneer Natural Resources Co. on Friday said it reached an agreement to settle claims made in the lawsuit John Steven Alford and Robert Larrabee, individually and on behalf of a Plaintiff Class v. Pioneer Natural Resources USA, Inc. The plaintiffs sued a predecessor company to Pioneer USA asserting various claims relating to alleged improper deductions in t

  • Halliburton Co awarded Alaska Contract by PXD

    said Thursday its energy services group in Alaska has been awarded multimillion-dollar contracts from Pioneer Natural Resources Co. (PXD) for drilling and other services in Pioneer's Oooguruk development project. Financial terms were not disclosed. Houston-based Halliburton said its work on the project, scheduled to last three years, will begin late this year.

  • PXD Raises Dividend by 8%

    PXD raised its quarterly cash dividend by 8% to 13 cents a share from 12 cents a share. The Dallas oil and gas exploration company said it would pay out the new dividend on Oct. 12 to shareholders of record on Sept. 28. The stock closed Thursday up 59 cents at $42.37.

  • Boosts share buyback program by $450M

    PXD's board has approved an increase of $450 million in its existing share repurchase program. The boost brings the company's total authorization to up to $750 million

  • Sold Canada Assets for $540M CASH

    Pioneer Natural Resources Co. agreed Thursday to sell its Canadian operations to Abu Dhabi National Energy Co. for $540 million in cash. Pioneer, an Irving, Texas, energy company, said the sale is expected to close in the fourth quarter, but isn't expected to have a significant impact on fourth-quarter earnings. Proceeds will be used for share repurchases, debt reduction and acquisitions, Pioneer said. Pioneer shares closed Wednesday up 53 cents, or 1.3%, at $41.82.

  • Invests $240 In Assets

    entered into an agreement to acquire an interest in approximately 74,000 gross acres in the Barnett Shale for $150 million. The Dallas-based oil and gas company also announced it intends to acquire an interest in approximately 44,000 gross acres in the Spraberry field in West Texas for $90 million. Both acquisitions are expected to close during the fourth quarter of 2007. At Barnett Shale, Pioneer estimates that the acreage being acquired holds 81 billion cubic feet gas equivalent of net prove

  • Expects to record $85M from sub sale

    Pioneer Natural Resources Co. said Tuesday it expects to record a gain of $85 million in the fourth quarter as a result of the closure of the sale of its Canadian subsidiary, Pioneer Natural Resources Canada Inc., to Abu Dhabi National Energy Co. Pioneer also expects to pay little to no income tax on the $540-million deal. The oil and gas exploration and production company said its fourth-quarter financial guidance announced earlier this month remain unchanged.

  • 2008 Capital Budget of +$1 billion

    PXD said its board approved a 2008 capital budget of $1 billion, excluding acquisitions, asset retirement obligations, capitalized interest and geological and geophysical G&A. The Irving, Texas, energy company said it plans to increase average annual production per share by at least 12% for the year. Pioneer said 60% of its budget is earmarked for oil drilling, including a 350-well program in West Texas.

  • Oil Prices hit Record High

  • Oil Industry Takes hit with $50/barrel

    Economic concerns drove a barrel of crude oil to slump below $50 for the first time in more than three years