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What: Shares of oil & gas explorer Pioneer Natural Resources
So what: Revenue during the third quarter jumped 40% to $610.5 million and adjusted earnings per share were $1.35, topping estimates of $0.87. During the fourth quarter, management expects to produce 136 to 141 thousand barrels of oil equivalent per day.
Now what: Production will be up in the fourth quarter from 128 thousand barrels of oil equivalent in the third quarter. And for 2012, management is expecting production to grow another 20% plus, so the growth curve is tremendous. I think Pioneer's shares have more room to run on these growth numbers and continued profitability.
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