Pioneer's Tim Dove: OPEC Compliance Still a Question

The transcript discusses the prospects of compliance and oil deals, highlighting a 100% chance of a deal but uncertainty in compliance. It forecasts oil prices for 2017 and 2018, suggesting a range of $45 to $70. The discussion covers efficient drilling practices, emphasizing the US as a short cycle swing producer. It outlines hedging strategies for oil and gas, using 3-way collars to manage risk. The cost structure is analyzed, showing profitability at prices above $20 due to low costs.

What is the main issue with high oil inventories according to the discussion?

• They cause a decrease in oil quality.

• They improve market stability.

• They result in price-related issues.

• They lead to increased production costs.

What oil price range is expected by the end of 2017?

• $30 to $35

• $45 to $55

• $60 to $70

• $75 to $80

How long does it take for oil production to start after drilling begins?

• 180 days

• 90 days

• 60 days

• 130 days

What is the company's hedging strategy for oil and gas?

• Using futures contracts only

• Avoiding hedging altogether

• Relying on spot market prices

• Employing 3-way collars

At what price does the company start making a profit?

• $30

• $20

• $10

• $40