Creating Differentiated Value Generated 131 MM of Free Cash Flow1 in Q3 20202 Improving Capital Efficiency Announced Parsley Acquisition Second consecutive quarter of increasing 2020 oil - Highly accretive to FCF per share and…
Solid Execution Drives Strong Third Quarter Results Oil BOE Free Cash Horizontal Net Debt to Production Production Flow1 LOE EBITDAX2 Q3 2020 201 355 131 MM 2.41/BOE 0.7x MBOPD MBOEPD Generated 131 MM of Free Cash Flow1 in…
Low Controllable Cash Costs Controllable Cash Costs1 per BOE 5.81 0.41 Low controllable cash costs combined with high net revenue interest improve cash 0.66 margins 0.30 4.44 Continued operational and efficiency improvements…
Best-in-Class G&A 1 G&A/BOE 3.00 Peer leading G&A per BOE 2.50 expected to further improve with pending acquisition of Parsley Energy 2.00 Cash Non Company headcount 1.50 rationalized for lower activity, reflecting…
Improving 2020 Plan Capital Budget1 Oil Production Total Production 1.4 B 1.6 B 209 211 MBOPD 365 369 MBOEPD Maintained Increased Increased Consistent with prior average activity guidance, currently operating: 8 drilling rigs (1 rig…
Preserving a Strong Balance Sheet 2020E Net Debt/EBITDAX1 6x Independent Major 4x Pioneers top-tier balance sheet allows for accelerated return of capital 2x 0x 1) Source: FactSet Consensus 10/27/2020. Peers: APA, CLR,…
Operations Update D&C Efficiencies Well Costs ( MM) 9 1,800 8 7 1,400 6 Original 2020 Q1 2020 Q2 2020 Q3 2020 Plan Update Update Update 1,000 Reduced well costs by 2.0 MM year-to-date through increased efficiencies and service…
Delivering Best-in-Class Oil Production 1) Source: Enverus.com; average Permian Basin oil mix for gross production between January 2016 and January 2020. 2) Peers: APA, COP, CVX, CXO, DVN, EOG, FANG, MRO, MTDR, NBL, OXY, PE, WPX, 11…
Unmatched Portfolio of Top-Tier Permian Acreage Midland Basin A Rated Inventory1 (Breakeven…
Transaction Enhances Investment Thesis Creating Significant Value for Shareholders Targeting 10% Total Return1 Significant (inclusive of base dividend, variable dividend and oil growth) Free Cash Flow Reinvestment rate lowered to…
Providing Low-Emission Barrels 1) The foregoing information was obtained from The Edge, a product of Wood Mackenzie. 15
Strong Focus on ESG Environmental Social Governance Focus on maintaining very low At Pioneer, a job is never so Board of Directors Committees: flaring intensity and GHG emissions important that it cannot be done Health, Safety and…
Q3 2020 Summary Q3 2020 Earnings Q3 2020 Guidance vs. Results Results of Guidance Operations Millions Per Diluted Average Daily Production Volume (MBOEPD) 341 - 356 355 (After Tax) Share Average Daily Oil Production Volume (MBOPD)…
Production Costs (Per BOE) 9.70 Workovers 0.68 8.48 0.47 7.31 Production and Ad 2.67 0.44 6.89 Q3 2020 compared to Q2 2020: Valorem Taxes 2.28 0.19 6.27 2.17 0.10 1.90 Increase in production costs Gathering, Processing 2.17…
Production By Commodity Q3 19 Q4 19 Q1 20 Q2 20 Q3 20 Oil (BOPD) 215,194 220,306 222,644 214,921 200,657 Total Permian Basin NGL (BOEPD) 74,844 80,175 84,333 90,168 82,589 Gas (MCFPD) 364,372 377,529 408,536 416,429 430,064 Total…
Liquidity Position Net debt at the end of Q3 2020 (reflects unrestricted cash on hand of 1.3 B) 2.0 B Unsecured credit facility availability 1.5 B Net debt-to-book capitalization at the end of Q3 2020 14% Maturities and Balances1…
Supplemental Earnings Per Share Information The Company uses the two-class method of calculating basic The Company's net loss attributable to common stockholders is reconciled to basic and and diluted earnings per share. Under the…
Supplemental Non-GAAP Financial Measures EBITDAX, discretionary cash flow (DCF) (as defined below) and net debt to trailing twelve months EBITDAX are presented herein, and reconciled to the GAAP measures of net income (loss) and net cash…
Supplemental Non-GAAP Financial Measures Adjusted loss attributable to common stockholders excluding noncash mark-to-market (MTM) adjustments and adjusted income attributable to common stockholders excluding noncash MTM adjustment and…
Supplemental Non-GAAP Financial Measures Free cash flow (FCF) is a non-GAAP financial measure. As used by the Company, FCF is defined as net cash provided by operating activities, adjusted for changes in operating assets and liabilities,…
Additional Information EBITDAX represents earnings before depletion, depreciation and amortization expense; exploration and abandonments; impairment of inventory and other property and equipment; accretion of discount on asset retirement…
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