US Shale Output Poised To Keep Rising Despite Investor Concerns
Analysts said Pioneer's oil target miss was not indicative of a wider problem and the increasing gas production also benefits the energy industry.
"From the entire (Permian) basin perspective, this will be offset by stronger output from several other players," said Artem Abramov, vice president of analysis at Rystad Energy.
Dan Katzenberg, an oil industry analyst at R.W. Baird & Co, said rising natural gas production is good for producers.
"There's more total resource," he said, "That is the important point, and it's clearly being overlooked by the market."
(Reporting by Ernest Scheyder; Editing by Phil Berlowitz)
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