Pioneer Natural Resources Company (PXD) Q3 2022 Earnings Call Transcript

Pioneer Natural Resources Company (NYSE:PXD) Q3 2022 Earnings Conference Call October 28, 2022 10:00 AM ET

Company Participants

Neal Shah - Senior Vice President & Chief Financial Officer

Scott Sheffield - Chief Executive Officer

Rich Dealy - President & Chief Operating Officer

Conference Call Participants

Neil Mehta - Goldman Sachs

John Freeman - Raymond James

Doug Legate - Bank of America

Scott Hanold - RBC Capital Markets

Charles Meade - Johnson Rice

Derrick Whitfield - Stifel

Arun Jayaram - JPMorgan

Matt Portillo - TPH

Neal Dingmann - Truist Securities

Bob Brackett - Bernstein Research

Phillips Johnston - Capital One

Jeanine Wai - Barclays

Operator

Welcome to Pioneer Natural Resources Third Quarter Conference Call. Joining us today will be Scott Sheffield, Chief Executive Officer; Rich Dealy, President and Chief Operating Officer; and Neal Shah, Senior Vice President and Chief Financial Officer.

Pioneer has prepared presentation slides to supplement comments made today. These slides are available on the Internet at www.pxd.com. Again, the Internet website to access slides presented in today's call is www.pxd.com. Navigate to the Investors tab found at the top of the webpage and then select investor presentations. Today's call is being recorded. A replay of the call will be archived on www.pxd.com through November 22, 2022.

The company's comments today will include forward-looking statements made pursuant to the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995. These statements and the business prospects of Pioneer are subject to a number of risks and uncertainties that may cause actual results in future periods to differ materially from forward-looking statements. These risks and uncertainties are described in Pioneer's news release on Page 2 of the slide presentation and in Pioneer's public filings made with the Securities and Exchange Commission.

At this time, for opening remarks, I would like to turn the call over to Pioneer's Senior Vice President and Chief Financial Officer, Neal Shah. Please go ahead, sir.

Neal Shah

Thank you, Melinda. Good morning, everyone, and thank you for joining us for Pioneer's third quarter earnings call. Today, we will highlight Pioneer's excellent third quarter financial and operating results and peer-leading return of capital strategy.

Importantly, we will discuss the increased return thresholds we are instituting beginning with our 2023 program, as well as the strong benefit we are seeing through our long lateral development. We are also excited to highlight our participation in two renewable energy projects that will help reduce our emissions profile and further strengthen our leading ESG strategy. We will then open up the call for questions.