4 Energy Stock Stories to Spark Investment Chatter
Pioneer Natural Resources Company (NYSE:PXD): Closing price $124.57
On Thursday, Pioneer said that it added proved reserves in the amount of 161 million barrels of oil equivalent during last year from discoveries, extensions, improved recovery and technical revisions of previous reserve estimates. These drillbit-proved reserve additions correspond to replacing 264 percent of the firm’s full-year 2012 production of 61 million barrels (including proved reserves used for field fuel of 3 million barrls and production of 1 million barrels from South Africa before its its sale). The drillbit finding and development cost related to proved-reserve additions was $17.72 per barrel of oil equivalent.
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