RBC Capital Markets Analyst Leo Mariani says Pioneer Natural Resources (PXD) is one stock that is well-positioned during the current weak oil price environment. It operates in the Permian Basin and Eagle Ford Shale, which Mariani says are two of the lowest-cost plays in the U.S.
“The company also has a very strong balance sheet as well, one of the best in the industry, and they have a very strong hedge book,” Mariani says. “So really, the low prices that we’ve seen over the past several months haven’t impacted them as much with their hedge book as other companies.”
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Mariani says he expects Pioneer to be able to get some production growth during the weak price environment in 2015. As a result, the company is likely to be in a better position than some of its peers.
“When a recovery [occurs] they are likely to go back to business as usual versus where it was six months ago,” Mariani says.
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