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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Pioneer Natural Resources Co | NYSE:PXD | NYSE | Common Stock |
Price Change | % Change | Share Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 269.62 | 0 | 11:53:10 |
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)
|
|
|
|
|
|
|
|
Three Months Ended March 31, 2017
|
||
Noncash changes in fair value:
|
|
|||||
|
Oil derivative gains
|
$
|
118
|
|
||
|
NGL derivative gains
|
3
|
|
|||
|
Gas derivative gains
|
19
|
|
|||
|
Diesel derivative gains
|
1
|
|
|||
|
|
Total noncash derivative gains, net
|
141
|
|
||
|
|
|
|
|
||
Net cash receipts on settled derivative instruments:
|
|
|||||
|
Oil derivative receipts
|
11
|
|
|||
|
Gas derivative payments
|
(1
|
)
|
|||
|
|
Total cash derivative receipts, net
|
10
|
|
||
|
|
|
Total derivative gains, net
|
$
|
151
|
|
|
|
2017
|
|
Year Ending December 31,
|
||||||||||||||||
|
|
Second Quarter
|
|
Third
Quarter
|
|
Fourth Quarter
|
|
2018
|
|
2019
|
||||||||||
Average Daily Oil Production Associated with Derivatives (Bbl):
|
|
|
|
|
|
|
|
|
|
|
||||||||||
Collar contracts:
|
|
|
|
|
|
|
|
|
|
|
||||||||||
Volume
|
|
6,000
|
|
|
6,000
|
|
|
6,000
|
|
|
—
|
|
|
—
|
|
|||||
NYMEX price:
|
|
|
|
|
|
|
|
|
|
|
||||||||||
Ceiling
|
|
70.40
|
|
|
$
|
70.40
|
|
|
$
|
70.40
|
|
|
$
|
—
|
|
|
$
|
—
|
|
|
Floor
|
|
50.00
|
|
|
$
|
50.00
|
|
|
$
|
50.00
|
|
|
$
|
—
|
|
|
$
|
—
|
|
|
Collar contracts with short puts:
|
|
|
|
|
|
|
|
|
|
|
||||||||||
Volume
|
|
129,000
|
|
|
147,000
|
|
|
155,000
|
|
|
41,000
|
|
|
—
|
|
|||||
NYMEX price:
|
|
|
|
|
|
|
|
|
|
|
||||||||||
Ceiling
|
|
$
|
61.19
|
|
|
$
|
62.03
|
|
|
$
|
62.12
|
|
|
$
|
62.82
|
|
|
$
|
—
|
|
Floor
|
|
$
|
48.46
|
|
|
$
|
49.81
|
|
|
$
|
49.82
|
|
|
$
|
50.00
|
|
|
$
|
—
|
|
Short put
|
|
$
|
40.45
|
|
|
$
|
41.07
|
|
|
$
|
41.02
|
|
|
$
|
40.00
|
|
|
$
|
—
|
|
Rollfactor swap contracts (a):
|
|
|
|
|
|
|
|
|
|
|
||||||||||
Volume
|
|
20,000
|
|
|
20,000
|
|
|
20,000
|
|
|
—
|
|
|
—
|
|
|||||
NYMEX roll price
|
|
$
|
(0.32
|
)
|
|
$
|
(0.32
|
)
|
|
$
|
(0.32
|
)
|
|
$
|
—
|
|
|
$
|
—
|
|
Average Daily NGL Production Associated with Derivatives:
|
|
|
|
|
|
|
|
|
|
|
||||||||||
Butane swap contracts (b):
|
|
|
|
|
|
|
|
|
|
|
||||||||||
Volume (Bbl)
|
|
2,000
|
|
|
2,000
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|||||
Index price
|
|
$
|
34.86
|
|
|
$
|
34.86
|
|
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
—
|
|
Butane collar contracts with short puts (b):
|
|
|
|
|
|
|
|
|
|
|
||||||||||
Volume (Bbl)
|
|
2,000
|
|
|
2,000
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|||||
Index price:
|
|
|
|
|
|
|
|
|
|
|
||||||||||
Ceiling
|
|
$
|
36.12
|
|
|
$
|
36.12
|
|
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
—
|
|
Floor
|
|
$
|
29.25
|
|
|
$
|
29.25
|
|
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
—
|
|
Short put
|
|
$
|
23.40
|
|
|
$
|
23.40
|
|
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
—
|
|
Ethane collar contracts (c):
|
|
|
|
|
|
|
|
|
|
|
||||||||||
Volume (Bbl)
|
|
3,000
|
|
|
3,000
|
|
|
3,000
|
|
|
—
|
|
|
—
|
|
|||||
Index price:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||
Ceiling
|
|
$
|
11.83
|
|
|
$
|
11.83
|
|
|
$
|
11.83
|
|
|
$
|
—
|
|
|
$
|
—
|
|
Floor
|
|
$
|
8.68
|
|
|
$
|
8.68
|
|
|
$
|
8.68
|
|
|
$
|
—
|
|
|
$
|
—
|
|
Ethane basis swap contracts (d):
|
|
|
|
|
|
|
|
|
|
|
||||||||||
Volume (MMBtu)
|
|
6,920
|
|
|
6,920
|
|
|
6,920
|
|
|
6,920
|
|
|
6,920
|
|
|||||
Index price
|
|
$
|
1.60
|
|
|
$
|
1.60
|
|
|
$
|
1.60
|
|
|
$
|
1.60
|
|
|
$
|
1.60
|
|
Average Daily Gas Production Associated with Derivatives (MMBtu):
|
|
|
|
|
|
|
|
|
|
|
||||||||||
Collar contracts with short puts:
|
|
|
|
|
|
|
|
|
|
|
||||||||||
Volume
|
|
270,000
|
|
|
290,000
|
|
|
300,000
|
|
|
62,329
|
|
|
—
|
|
|||||
NYMEX price:
|
|
|
|
|
|
|
|
|
|
|
||||||||||
Ceiling
|
|
$
|
3.56
|
|
|
$
|
3.57
|
|
|
$
|
3.60
|
|
|
$
|
3.56
|
|
|
$
|
—
|
|
Floor
|
|
$
|
2.95
|
|
|
$
|
2.95
|
|
|
$
|
2.96
|
|
|
$
|
2.91
|
|
|
$
|
—
|
|
Short put
|
|
$
|
2.47
|
|
|
$
|
2.47
|
|
|
$
|
2.47
|
|
|
$
|
2.37
|
|
|
$
|
—
|
|
Basis swap contracts:
|
|
|
|
|
|
|
|
|
|
|
||||||||||
Mid-Continent index swap volume (e)
|
|
45,000
|
|
|
45,000
|
|
|
45,000
|
|
|
—
|
|
|
—
|
|
|||||
Price differential ($/MMBtu)
|
|
$
|
(0.32
|
)
|
|
$
|
(0.32
|
)
|
|
$
|
(0.32
|
)
|
|
$
|
—
|
|
|
$
|
—
|
|
Permian Basin index swap volume (f)
|
|
—
|
|
|
—
|
|
|
26,522
|
|
|
9,863
|
|
|
—
|
|
|||||
Price differential ($/MMBtu)
|
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
0.30
|
|
|
$
|
0.30
|
|
|
$
|
—
|
|
(a)
|
Represent swap contracts that fix the difference between (i) each day's price per Bbl of West Texas Intermediate oil ("WTI") for the first nearby month less (ii) the price per Bbl of WTI for the second nearby NYMEX month, multiplied by .6667; plus (iii) each day's price per Bbl of WTI for the first nearby month less (iv) the price per Bbl of WTI for the third nearby NYMEX month, multiplied by .3333.
|
(b)
|
Represent swap contracts and collar contracts with short puts that reduce the price volatility of butane forecasted for sale by the Company at Mont Belvieu Texas-posted prices.
|
(c)
|
Represent collar contracts that reduce the price volatility of ethane forecasted for sale by the Company at Mont Belvieu, Texas-posted prices.
|
(d)
|
Represent basis swap contracts that reduce the price volatility of ethane forecasted for sale by the Company at Mont Belvieu, Texas-posted prices. The basis swaps fix the basis differential on a NYMEX Henry Hub MMBtu equivalent basis. The Company will receive the NYMEX Henry Hub price plus the price differential on 6,920 MMBtu per day, which is equivalent to 2,500 Bbls per day of ethane.
|
(e)
|
Represent swap contracts that fix the basis differentials between the index price at which the Company sells its Mid-Continent gas and the NYMEX Henry Hub index price used in collar contracts with short puts.
|
(f)
|
Represent swap contracts that fix the basis differentials between Permian Basin index prices and southern California index prices for Permian Basin gas forecasted for sale in southern California.
|
|
PIONEER NATURAL RESOURCES COMPANY
|
|
|
|
|
|
|
|
|
|
|
|
By:
|
/s/ Margaret M. Montemayor
|
|
|
|
Margaret M. Montemayor,
|
|
|
|
Vice President and Chief Accounting Officer
|
|
|
|
|
|
|
|
|
|
Dated: April 18, 2017
|
|
|
|
1 Year Pioneer Natural Resources Chart |
1 Month Pioneer Natural Resources Chart |
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