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BRIEF-Pioneer Natural Resources Co reports Q4 2016 financial and operating results and announces 2017 capital program
February 7, 2017 / 9:22 PM / 5 months ago

BRIEF-Pioneer Natural Resources Co reports Q4 2016 financial and operating results and announces 2017 capital program

2 Min Read

Feb 7 (Reuters) - Pioneer Natural Resources Co

* Pioneer Natural Resources Company reports fourth quarter 2016 financial and operating results and announces 2017 capital program

* Pioneer Natural Resources Co sees planning capital expenditures for 2017 of $2.8 billion

* Q4 loss per share $0.26

* Q4 earnings per share view $0.34 -- Thomson Reuters I/B/E/S

* Pioneer Natural Resources Co - Pioneer expects to place approximately 260 gross horizontal wells on production in spraberry/wolfcamp during 2017

* Pioneer Natural Resources - Sees 2017 production growth rate for spraberry/wolfcamp ranges from 30% to 34%, with oil production increasing 33% to 37%

* Pioneer Natural Resources Co - "Company assumes that it will continue to reject ethane throughout 2017 based on continuing weak market conditions"

* Pioneer Natural Resources Co - 2017 capital budget is expected to be funded from forecasted operating cash flow of $2.2 billion and cash on hand

* Pioneer Natural Resources Co sees Q1 2017 production is forecasted to average 243 mboepd to 248 mboepd

* Pioneer Natural Resources Co sees Q1 2017 production costs are expected to average $7.75 per boe to $9.75 per boe

* Pioneer Natural Resources Co sees Q1 2017 total exploration and abandonment expense is forecasted to be $20 million to $30 million

* Pioneer Natural Resources Co - Quarterly production grew by 3 mboepd compared to Q3 of 2016

* Q4 revenues and other income $1,168 million versus $1,074 million

* Q4 revenue view $1.04 billion -- Thomson Reuters I/B/E/S Source text for Eikon: Further company coverage:

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