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Pioneer Natural Resources’ Free Cash Flow Normalized to Production

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Free cash flow and production

In 1Q16, Pioneer Natural Resources’ (PXD) reported FCF (free cash flow) normalized to total production of -$21.75 per boe (barrel of oil equivalent). That was higher by $13.62 per boe compared to 1Q15.

As you can see in above graph, Pioneer Natural Resources’ free cash flow normalized to total production declined substantially in the last quarter. This was mainly due to much lower operating cash flows as a direct result of lower realized crude oil prices (UWTI) and lower hedging effectiveness.

For 1Q16, other upstream companies such as Range Resources (RRC), Energen (EGN), and Denbury Resources (DNR) have also reported lower year-over-year FCF normalized to total production.

Now let’s take a look at Pioneer Natural Resources’ dividends and dividend yields.

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