Seeking Alpha

Pioneer’s production in doubt after severe winter weather in Texas

  • Pioneer Natural Resources (PXD +0.1%) warned late Wednesday that severe winter weather in Texas has significantly impacted production and drilling operations in the Spraberry/Wolfcamp, Eagle Ford shale and Barnett shale plays in the state, and analysts expect PXD to revise down its production guidance in the coming weeks.
  • PXD has said it expects production to average 179K-187K boe/day in Q4.
  • Topeka Capital keeps its Hold rating but cuts its price target on the stock to $210 from $225, while Global Hunter calls the news "more of a short-term nuisance than a long-term threat."
  • PXD shares have gained 66% YTD, the most among energy stocks in the S&P 500, as Permian plays have been hot.
  • Other Permian names are mixed today: CXO -0.2%, FANG -0.6%, LPI -1.7%, ATHL +1.4%, AREX +0.5%.
Comments (1)
  • TMI can be a nuisance, but that's today's world. FANG will probably drop too. Another buying opportunity at 45 and/or 40? Sounds good to me!
    30 Nov 2013, 01:44 PM Reply Like
DJIA (DIA) S&P 500 (SPY)