U.S. oil production growth forecasts too high, Pioneer CEO Sheffield says [Seeking Alpha]
Pioneer Natural Resources Company (PXD)
Last pioneer natural resources company earnings: 2/19 04:07 pm
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Source: Seeking Alpha
U.S. oil production growth forecasts too high, Pioneer CEO Sheffield saysMay 05, 2022 3:45 PM ETPioneer Natural Resources Company (PXD)By:Carl SurranSA News Editorbaona/E+ via Getty ImagesU.S. oil production likely will rise by as much as 600K bbl/day this year, and analysts predictinggrowth as high as 1M bbl/day are "too aggressive," Pioneer Natural Resources (NYSE:) CEO Scott Sheffield said on Thursday, suggesting oil prices could rise further.The U.S. Information Administration forecasts oil production will rise by ~800K bbl/day this year to average 12M bbl/day, but that figure will prove difficult to reach given supply chain and labor constraints, Sheffield said during the company'searnings conference callPioneer (The company expectsQ2 production costs will increase nearly 20% Q/Q"Too many think-tank firms are way too high on US production," Sheffield said on the call, noting U.S. oil output has stayed relatively flat for several months this year despite a rising number of workin
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PXD
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- 5/2/24 - Miss
PXD
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- 5/3/24 - Form POSASR
- 5/3/24 - Form POSASR
- 5/3/24 - Form POSASR
- PXD's page on the SEC website