Pioneer Natural Resources’ Q4 production nicked by December storm (NYSE:PXD)

Winter Storm Elliott knocked ~4.5K bbl/day of oil and 8.5K boe/day from Pioneer Natural Resources’ (NYSE:PXD) expected Q4 production in the Permian Basin, the company said Thursday in an 8-K filing.

Pioneer (PXD) said it expects to report Q4 average output of 351K bbl/day of oil and 662K boe/day, compared to 355K bbl/day of oil and 670K boe/day it would have produced if not for the severe weather; production was fully restored by the end of December.

The company also expects to report FY 2022 average output of 352K bbl/day of oil and 650K boe/day.

Pioneer Natural Resources’ (PXD) rising base dividend could reach $4.85 in 2023; “on top of that, its special dividend will mean that shareholders will get a 10% total yield,” Michael Wiggins de Oliveira writes in an analysis posted recently on Seeking Alpha.