PXD's dividends will be going WAY UP - Aug 3
Posted: Tue Aug 03, 2021 8:21 am
Highlights
Delivered strong second quarter free cash flow1 of $616 million
Accelerated and increased variable dividend program; future variable dividend payments up to 75% of prior quarter's free cash flow after deducting the base dividend paid during the quarter
Declared inaugural variable dividend of $1.51 per share to be paid during the third quarter; represents approximately 75% of second quarter free cash flow after deducting the base dividend paid in April < Based on my forecast model, PXD's dividends should increase to over $2.50/Qtr in 2022 if their realized oil price is $65/bbl.
Averaged second quarter oil production of 363 thousand barrels of oil per day (MBOPD), in the upper half of guidance
Averaged second quarter production of 629 thousand barrels of oil equivalent per day (MBOEPD), near the top end of guidance
CEO Scott D. Sheffield stated, "Pioneer delivered a strong quarter as we integrated DoublePoint operations into our asset base, while continuing to execute one of the most efficient capital programs in the industry.
Delivered strong second quarter free cash flow1 of $616 million
Accelerated and increased variable dividend program; future variable dividend payments up to 75% of prior quarter's free cash flow after deducting the base dividend paid during the quarter
Declared inaugural variable dividend of $1.51 per share to be paid during the third quarter; represents approximately 75% of second quarter free cash flow after deducting the base dividend paid in April < Based on my forecast model, PXD's dividends should increase to over $2.50/Qtr in 2022 if their realized oil price is $65/bbl.
Averaged second quarter oil production of 363 thousand barrels of oil per day (MBOPD), in the upper half of guidance
Averaged second quarter production of 629 thousand barrels of oil equivalent per day (MBOEPD), near the top end of guidance
CEO Scott D. Sheffield stated, "Pioneer delivered a strong quarter as we integrated DoublePoint operations into our asset base, while continuing to execute one of the most efficient capital programs in the industry.