Creating Differentiated Value Record Quarterly Free Cash Flow1 1.1 Billion during the third quarter Dividend Payments From Q3 FCF 880 MM 3.58/ s h a r e Base + Variable Dividend Payments from Q3 2021 Free Cash Flow (3.02 variable…
Solid Execution Drives Strong Third Quarter Results Free Cash Midland 2021E Net Debt Oil Production BOE Production Flow1 Horizontal LOE to EBITDAX2 Q3 2021 389 676 1.1 2.09/BOE 0.4x MBOPD MBOEPD Billion Production in the…
Resilient Long-Term Investment Thesis 1 80% of free cash flow Delivers Mid-Teens Total Return returned to shareholders (inclusive of base dividend, variable dividend and oil growth) Reinvestment rate of 50% - 60% of cash flow at…
Committed To Significant Return Of Capital 1 Increasing Dividend Payout 20 (/share) Accelerated first variable dividend payment to Q3 2021 from 2022 Increased 2021 variable dividend to 75% 15 of quarterly FCF after payment of…
Positioned For A Leading Dividend Yield 12% Pioneers dividend yield1 would exceed all peers, majors and S&P 500 11% Driven by strong free cash flow and focus on return of capital 8% Q4 2021 Annualized Dividend Yield 1 2022E Dividend…
Peer-Leading Base Dividend Growth 5-Year Base Dividend Confidence in strategic plan supports Compound Annual Growth Rate1 (/share) 100% 10% increase in base dividend 80% 60% Proven commitment to sustainable base dividend with…
Low Controllable Cash Costs Controllable Cash Costs1 per BOE 5.81 Low controllable cash costs combined with high net revenue interest generate strong cash margins 4.45 4.15 Continued operational efficiencies and acquisition…
2021 Outlook 2021 Guidance Reflects the impacts of the Glasscock divestiture 2021 Production Capital Budget1 356 359 2.95 B - 3.25 B 3.3 B MBOPD Estimated Operating Cash Flow 2 Free Cash Flow3 613 619 MBOEPD 6.55 B Expect to…
Midland Basin Focus Asset monetization Delaware Basin Divestiture accelerates value 3.25 B all cash consideration 92,000 net contiguous acres 50,000 BOEPD (70% oil) Expected to close before year end Glasscock PERMIAN…
Operations Update Completed Feet/Day Average 2021 Rig Count: 22 24 3 rigs in the southern joint venture area 1 rig in the Delaware Basin 80% Deliver 535 POPs Increase Average lateral length 10,100 Strong operational performance…
All Intensity Reduction Goals Not Created Equal Emissions Intensity and Reduction Goals1 (Scope 1 & 2) Greenhouse Gas (GHG) Emissions Intensity 40 Pioneers 2020 GHG intensity of 11 CO2e tonnes per MBOE is already (CO2e tonnes…
Providing Affordable Energy With Low Emissions 40 2020 CO2 Intensity (kg/boe)1 30 Pioneers CO 2 intensity is significantly Average: below the majority of world oil supply 20 19 kg/boe 10 0 1) Source: Rystad Energy…
Strengthening Environmental Performance Updated ESG Targets 2020 Progress Path to Net Zero by 20501 Previously 25% by 2030 (Scope 1 and Scope 2) 2020 flaring intensity of 0.2% significantly less than Pioneers goal of less than 1%…
Focused On ESG Leadership Annual Incentive Compensation Components1 Majority of executive equity compensation tied to TSR 20% 20% 20% 20% 20% Corporate Free Cash Flow ESG & HSE Capital Annual (including S&P 500); 100% for CEO Returns…
Enhancing Shareholder Value Focus on Returns - Low-cost, high-return Permian Basin wells drive strong corporate returns Capital Discipline Disciplined reinvestment rate underpins compelling investment framework Return of Capital…
SUPPLEMENTAL SLIDES
Q3 2021 Dividend Payout Q3 2021 Variable Dividend Calculation Millions Q3 2021 Free Cash Flow1 1,128 Base Dividend (paid July 2021) (137) Q3 2021 Post Base Dividend Free Cash Flow 991 Variable Dividend Payment Details Percent…
Q3 2021 Summary Q3 2021 Adjusted Earnings1 Q3 2021 Guidance vs. Results Millions Per Diluted Results of (After Tax) Share Guidance Operations Net income attributable to common stockholders 1,045 4.07 Average Daily Production Volume…
Production Costs (Per BOE) 8.54 0.43 8.09 8.18 0.56 0.39 6.89 7.01 Workovers 0.24 2.64 0.19 2.67 2.91 Production and Ad 1.90 1.79 3Q 2021 compared to 2Q 2021: Valorem Taxes 3.05 Electricity credits resulting from Winter…
Production By Commodity Q3 20 Q4 20 Q1 21 Q2 21 Q3 21 Oil (BOPD) 200,657 204,430 281,004 363,033 388,820 Total Permian Basin NGL (BOEPD) 82,589 85,766 105,653 147,124 156,863 Gas (MCFPD) 430,064 445,367 523,519 715,673 780,515 Total…
Liquidity Position September 30, 2021 Liquidity Position Net debt (reflects unrestricted cash on hand of 0.6 B) 6.3 B Unsecured credit facility availability 2.0 B Net debt-to-book capitalization 21% Maturities and Balances1…
Supplemental Earnings Per Share Information The Company uses the two-class method of calculating basic The Company's net income attributable to common stockholders is reconciled to basic and diluted earnings per share. Under the…
Supplemental Non-GAAP Financial Measures EBITDAX and discretionary cash flow (DCF) (as defined below) are presented herein and reconciled to the GAAP measures of net income and net cash provided by operating activities, because of their…
Supplemental Non-GAAP Financial Measures Adjusted income attributable to common stockholders excluding noncash mark-to-market (MTM) adjustments and unusual items are presented in this earnings release and reconciled to the Company's net…
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; accretion of discount on asset retirement obligations; interest expense; income taxes; net gain on…
Loading...
