With two energy conferences underway this week, there is a gush of buzz from various petroleum poo-bahs. Many companies take their 25 minutes in the spotlight to dazzle analysts and money managers with increased production guidance, a new prospective resource play, or an exciting strategic shift.
Pioneer Natural Resources
Part of the outlook "oomph" is because of enhanced recovery prospects at the West Texas Spraberry field, one of our country's great historical producers. Pioneer sees about 1 billion barrels of potential upside in addition to currently booked reserves.
The Pierre Shale play is intriguing as well, partly because the gas lies at a shallow depth. The target also happens to directly underlie Pioneer's coal bed methane play in Colorado. This means that the infrastructure is already in place to pipe the gas away.
So what did all this news bring Pioneer? A sub-3% pop in the share price. Curious Fools may want to take a closer look at this name, in case the market's overlooking a potential outperformer.