Seeking Alpha

Wells comments on Permian operators after Pioneer Natural Resources warning

Pioneer Natural Resources (PXD) Wednesday announced that severe winter weather in Texas has significantly impacted the company's production and drilling operations in the Spraberry/Wolfcamp, Eagle Ford Shale and Barnett Shale Combo plays.

Commenting, analyst Gordon Douthat of Wells Fargo said, "PXD did not revise production guidance at this point as the company is still assessing impacts across its operations, but will provide an update once impact can be quantified. Production downtime will vary by company with some stating only 12 days of downtime and others stating more substantial downtime."

Douthat said impacts will likely be felt by all Permian operators including Concho Resources (CXO), Laredo Petroleum Holdings (LPI), Athlon Energy (ATHL), Diamondback Energy (FANG), Approach Resources (AREX) though more time is needed to fully quantify the extent.

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Comments (5)
  • bgold1955
    , contributor
    Comments (2321) | Send Message
    2 days of bad weather = 12 days of downtime? It's been in the 50's since the wind storm.
    30 Nov 2013, 05:10 PM Reply Like
  • 2puttwo
    , contributor
    Comments (612) | Send Message
    Ya, I don't think the sky is falling. It's not sell, sell, sell, just yet! I think I'm going to wait this one out. That least be looking to add.
    1 Dec 2013, 03:05 AM Reply Like
  • lonnieo
    , contributor
    Comment (1) | Send Message
    I beleve the weather is not that bad if any slowdown might be more a want to because of the holidays as hard as the permian basin is running even I am chocking back just to get a brake
    1 Dec 2013, 05:15 AM Reply Like
  • Hendershott
    , contributor
    Comments (1656) | Send Message
    Let me get this straight. "Investors" sell their oil stocks because of a bad winter? Anything to make a trade, I guess.
    1 Dec 2013, 05:01 PM Reply Like
  • thartland
    , contributor
    Comments (12) | Send Message
    These poor bastards should try running wells in North Dakota :)
    6 Dec 2013, 08:59 AM Reply Like
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