Pioneer Natural sees Q4 Permian Basin oil production 188-194 MBOPD
Permian Basin oil production is forecasted to average between 188 MBOPD to 194 MBOPD. Permian Basin production is forecasted to average between 293 MBOEPD to 303 MBOEPD. Production costs are expected to average $9.00 per BOE to $11.00 per BOE. DD&A expense is expected to average $13.00 per BOE to $15.00 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 $50 million to $60 million and is expected to include $40 million to $45 million of charges associated with excess firm gathering and transportation commitments primarily related to the Eagle Ford asset. Accretion of discount on asset retirement obligations is expected to be $3 million to $6 million. The Company's effective income tax rate is expected to range from 21% to 25%. Current income taxes are expected to be less than $5 million.