Pioneer Natural Resources Non-GAAP EPS of $7.74 beats by $0.38, revenue of $6.17B beats by $180M

May 04, 2022 4:22 PM ETPioneer Natural Resources Company (PXD)By: Deepa Sarvaiya, SA News Editor12 Comments
  • Pioneer Natural Resources press release (NYSE:PXD): Q1 Non-GAAP EPS of $7.74 beats by $0.38.
  • Revenue of $6.17B (+152.9% Y/Y) beats by $180M.
  • Declared quarterly base-plus-variable dividend of $7.38 per share to be paid during the second quarter
  • The Company expects its 2022 total capital budget to range between $3.3 billion to $3.6 billion. Pioneer expects its capital program to be fully funded from 2022 operating cash flow which is forecasted to be greater than $12.5 billion.
  • Second quarter 2022 oil production is forecasted to average between 342 to 357 MBOPD and total production is expected to average between 623 to 648 MBOEPD.
  • Production costs are expected to average $11.00 per BOE to $12.50 per BOE.
  • DD&A expense is expected to average $10.50 per BOE to $12.00 per BOE.
  • Total exploration and abandonment expense is forecasted to be $10 million to $20 million.
  • G&A expense is expected to be $70 million to $80 million.
  • Interest expense is expected to be $32 million to $37 million.

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