CapEx plan down 11%
By Richard Rostad, analyst, Oil & Gas 360

Pioneer released fourth quarter earnings today, becoming the first major Permian pure-play to report year-end results.

Pioneer earned $324 million in net income, or $1.89 per share, in Q4, down from the $665 million the company earned in Q4 2017. Full-year results are up, though, as Pioneer reported $978 in earnings in 2018 compared to $833 in 2017.

Pioneer produced 302 MBOEPD from the Permian in Q4, at the top end of guidance. Yearly Permian output is up 26%, with further growth planned for 2019. Pioneer expects to produce about 327 MBOEPD in the Permian in 2019, up 15% from 2018 output. This is robust growth for a large cap firm, but Pioneer has ambitious plans. T...

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