Pioneer Natural sees Q3 Basin production 278 MBOEPD - 288 MBOEPD
The company said, "Based on the ongoing asset divestiture process, the Company is only providing Permian Basin specific estimates for production, production costs and DD&A expense for the third quarter. Permian Basin production is forecasted to average between 278 MBOEPD to 288 MBOEPD. Production costs are expected to average $9.50 per BOE to $11.50 per BOE. DD&A expense is expected to average $12.50 per BOE to $14.50 per BOE. Exploration and abandonment expense is forecasted to be $20 million to $30 million. General and administrative expense is expected to be $95 million to $100 million. Interest expense is expected to be $30 million to $35 million. Other expense is forecasted to be $60 million to $70 million and is expected to include $45 million to $50 million of charges associated with excess firm gathering and transportation commitments. Accretion of discount on asset retirement obligations is expected to be $4 million to $7 million."