Delaware | 1-13245 | 75-2702753 |
(State or other jurisdiction of incorporation) | (Commission File Number) | (I.R.S. Employer Identification No.) |
5205 N. O'Connor Blvd., Suite 200, Irving, Texas | 75039 | |
(Address of principal executive offices) | (Zip Code) | |
(d) | Exhibits |
PIONEER NATURAL RESOURCES COMPANY | ||
By: | /s/ Margaret M. Montemayor | |
Name: | Margaret M. Montemayor | |
Title: | Vice President and Chief Accounting Officer | |
Date: | August 8, 2018 |
Three Months Ended June 30, | Six Months Ended June 30, | ||||||||||||||
2018 | 2017 | 2018 | 2017 | ||||||||||||
Average Daily Sales Volumes (a): | |||||||||||||||
Oil (Bbls) | 185,495 | 146,884 | 184,015 | 146,255 | |||||||||||
Natural gas liquids ("NGL") (Bbls) | 64,473 | 53,268 | 65,324 | 50,066 | |||||||||||
Gas (Mcf) | 466,414 | 353,612 | 422,880 | 346,149 | |||||||||||
Total (BOEs) | 327,704 | 259,087 | 319,819 | 254,012 | |||||||||||
Average Prices (a): | |||||||||||||||
Oil (per Bbl) | $ | 61.20 | $ | 45.00 | $ | 61.42 | $ | 47.01 | |||||||
NGL (per Bbl) | $ | 28.83 | $ | 16.91 | $ | 28.28 | $ | 18.03 | |||||||
Gas (per Mcf) | $ | 1.97 | $ | 2.62 | $ | 2.25 | $ | 2.70 | |||||||
Total (per BOE) | $ | 43.12 | $ | 32.56 | $ | 44.08 | $ | 34.31 |
Three Months Ended June 30, 2018 | |||||||||||||||||||
Permian Horizontals | Permian Verticals | Eagle Ford | Other Assets | Total | |||||||||||||||
($ per BOE) | |||||||||||||||||||
Margin Data: | |||||||||||||||||||
Average prices | $ | 45.73 | $ | 44.91 | $ | 35.18 | $ | 23.78 | $ | 43.12 | |||||||||
Production costs | (4.68 | ) | (23.83 | ) | (11.83 | ) | (13.43 | ) | (8.15 | ) | |||||||||
Production and ad valorem taxes | (2.52 | ) | (2.55 | ) | (1.58 | ) | (1.14 | ) | (2.35 | ) | |||||||||
$ | 38.53 | $ | 18.53 | $ | 21.77 | $ | 9.21 | $ | 32.62 | ||||||||||
Percent Oil | 63 | % | 61 | % | 34 | % | 14 | % | 57 | % |
(a) | On January 1, 2018, the Company adopted ASC 606, "Revenue from Contracts with Customers." Changes in oil and gas revenue, gas production volumes and oil and gas production costs are due to the conclusion under the control model in the new revenue rule that the third-party processor or transporter is only providing gas processing or transportation services, and that the Company remains the principal owner of the commodity until sold to the ultimate purchaser. Results for the three and six months ended June 30, 2018 are presented in accordance with the new rule, while results for the three and six months ended June 30, 2017 continue to be reported in accordance with historical accounting rules. |