{
  "docId": "019dd923-622b-71dc-a6da-f033bb6ecb30",
  "docSlug": "43984bcde008",
  "documentTitle": "Pioneer Natural Resources (PXD)",
  "authorId": "04_Greenlight_Capital",
  "authorName": "David Einhorn",
  "documentKindSlug": "conference-presentation",
  "documentKindLabel": "Conference presentation",
  "sourceTypeSlug": "activist_investor",
  "sourceTypeLabel": "Activist investor",
  "presentationDate": "2015-05-04 00:00:00",
  "orientation": "portrait",
  "aspectRatio": 0.77272725,
  "pageNumber": 14,
  "pageCount": 92,
  "prevPage": 13,
  "nextPage": 15,
  "slideType": "other",
  "function": "establish_context",
  "density": "balanced",
  "nDataPoints": 0,
  "notes": null,
  "elementsJson": [
    "headline_text",
    "paragraph",
    "process_diagram"
  ],
  "metadataConfidence": 1,
  "imagePath": null,
  "slideHref": "/slides/019dd923-622b-71dc-a6da-f033bb6ecb30/14",
  "deckHref": "/decks/019dd923-622b-71dc-a6da-f033bb6ecb30",
  "deckJsonHref": "/decks/019dd923-622b-71dc-a6da-f033bb6ecb30.json",
  "deckAnchorHref": "/decks/019dd923-622b-71dc-a6da-f033bb6ecb30#slide-14",
  "components": [
    {
      "bbox": {
        "h": 0.35,
        "w": 0.42,
        "x": 0.29,
        "y": 0.16
      },
      "kind": "image",
      "text": "Diagram showing a drilling rig, vertical and horizontal wellbore, and rock layers.",
      "attrs": null,
      "subkind": "illustration",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "a2c1f408-57fe-499e-a1e8-c4e4e9ae8aa0",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.15,
        "w": 0.74,
        "x": 0.13,
        "y": 0.48
      },
      "kind": "paragraph",
      "text": "Conventional drilling involves making a hole in the ground and sucking out pools of energy. But sometimes, the energy is stuck in the rocks. Hydraulic fracturing, or fracking, pushes a bunch of water, chemicals and sand into the rocks, breaking them apart to release the trapped energy. The best results come from combining fracking with horizontal drilling, where the well turns horizontally underground to better penetrate the energy bearing rock.",
      "attrs": null,
      "subkind": "paragraph",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "f0ce5b01-0e27-4aec-b9dc-d4242ea17121",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.05,
        "w": 0.28,
        "x": 0.36,
        "y": 0.1
      },
      "kind": "title",
      "text": "Fracking 101",
      "attrs": null,
      "subkind": "headline",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "e39b273c-6210-465c-94c3-8127eb35f335",
      "frameworkName": null,
      "frameworkSlug": null
    }
  ],
  "metrics": [],
  "tools": [],
  "frameworks": [],
  "arcBeats": [
    {
      "to": 30,
      "from": 11,
      "beatId": "1f901365-7df9-41a2-8794-5318424f1f6b",
      "arcName": "Problem-Agitate-Solution",
      "arcSlug": "problem-agitate-solution",
      "beatName": "Agitate (Make it worse)",
      "beatSlug": "problem-agitate-solution-agitate-make-it-worse",
      "evidence": "The presentation then agitates the problems with the fracking business model, highlighting the flaws and the challenges faced by companies like Pioneer Natural Resources.",
      "position": 1,
      "confidence": 0.8,
      "parentBeatName": "Development",
      "parentBeatSlug": "development"
    }
  ],
  "loops": [
    {
      "to": 20,
      "from": 11,
      "name": "Cost Of Inaction",
      "slug": "27-cost-of-inaction",
      "bestFor": "Urgent budget requests, compliance, risk mitigation",
      "matchId": "bad028ff-d819-41d6-8f68-9fc563f32f9d",
      "evidence": "The presentation highlights the costs of investing in fracking companies, including the risk of losing money.",
      "position": 0,
      "objective": "What are the costs of investing in fracking companies?",
      "structure": "The Status Quo -> The Hidden Costs Accumulating -> The Future State of Inaction -> The Tipping Point",
      "confidence": 0.7,
      "description": "Quantify what happens if the audience does nothing"
    }
  ],
  "imagePathAlt": null,
  "thumbSrc": null,
  "thumbSrcAlt": null,
  "locked": true
}