{
  "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": 39,
  "pageCount": 92,
  "prevPage": 38,
  "nextPage": 40,
  "slideType": "other",
  "function": "analyze_data",
  "density": "dense",
  "nDataPoints": 9,
  "notes": "The chart displays a forward curve for WTI crude oil prices from June 2015 to June 2023.",
  "elementsJson": [
    "headline_text",
    "line_chart",
    "paragraph",
    "footnote"
  ],
  "metadataConfidence": 1,
  "imagePath": null,
  "slideHref": "/slides/019dd923-622b-71dc-a6da-f033bb6ecb30/39",
  "deckHref": "/decks/019dd923-622b-71dc-a6da-f033bb6ecb30",
  "deckJsonHref": "/decks/019dd923-622b-71dc-a6da-f033bb6ecb30.json",
  "deckAnchorHref": "/decks/019dd923-622b-71dc-a6da-f033bb6ecb30#slide-39",
  "components": [
    {
      "bbox": null,
      "kind": "callout",
      "text": "Of course oil prices aren't expected to stay at $59. This is what the current forward curve, or strip, for WTI looks like.",
      "attrs": null,
      "subkind": null,
      "toolName": "Visual emphasis",
      "toolSlug": "visual-emphasis",
      "confidence": null,
      "componentId": "019dd952-fb97-7552-b55e-7ed5d4ce7757",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.35,
        "w": 0.72,
        "x": 0.14,
        "y": 0.15
      },
      "kind": "chart",
      "text": "Crude Oil WTI Forward Curve",
      "attrs": null,
      "subkind": "line",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "a13f2dfe-0f08-40a3-966c-8100eaea78ae",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": null,
      "kind": "metric",
      "text": "WTI Crude Oil Price: $68",
      "attrs": null,
      "subkind": "primary",
      "toolName": "Quantification",
      "toolSlug": "quantification",
      "confidence": null,
      "componentId": "019dd952-fb97-7552-b55e-8279d5382f03",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.08,
        "w": 0.74,
        "x": 0.13,
        "y": 0.485
      },
      "kind": "paragraph",
      "text": "Of course oil prices aren't expected to stay at $59. This is what the current forward curve, or strip, for WTI looks like. You can see that prices are expected to recover to about $64 next year and $68 in the long-term.",
      "attrs": null,
      "subkind": "paragraph",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "39f470ff-de24-4851-b75e-00e7b61a72bc",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.02,
        "w": 0.25,
        "x": 0.13,
        "y": 0.575
      },
      "kind": "source-note",
      "text": "Source: Bloomberg L.P. as of May 1, 2015.",
      "attrs": null,
      "subkind": null,
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "ee9870c2-736e-46cb-afe9-e1adeffe1924",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.04,
        "w": 0.21,
        "x": 0.395,
        "y": 0.105
      },
      "kind": "title",
      "text": "Oil futures",
      "attrs": null,
      "subkind": "headline",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "b592638d-eccc-48e4-af2f-80d17ff67780",
      "frameworkName": null,
      "frameworkSlug": null
    }
  ],
  "metrics": [],
  "tools": [],
  "frameworks": [],
  "arcBeats": [
    {
      "to": 60,
      "from": 31,
      "beatId": "4fb21252-5597-4b54-98c6-35ab815221d5",
      "arcName": "Problem-Agitate-Solution",
      "arcSlug": "problem-agitate-solution",
      "beatName": "Solution (Provide relief)",
      "beatSlug": "problem-agitate-solution-solution-provide-relief",
      "evidence": "The presentation provides a critique of the business model and highlights the challenges faced by Pioneer Natural Resources, effectively providing a solution or rather, a warning to investors.",
      "position": 2,
      "confidence": 0.8,
      "parentBeatName": "Resolution",
      "parentBeatSlug": "resolution"
    }
  ],
  "loops": [
    {
      "to": 40,
      "from": 30,
      "name": "Funnel Analysis",
      "slug": "32-funnel-analysis",
      "bestFor": "Sales optimization, customer journey, process efficiency",
      "matchId": "f532d98c-3e5b-40c2-a740-6db27e13981c",
      "evidence": "The presentation provides a detailed analysis of the fracking business model and the challenges faced by Pioneer Natural Resources.",
      "position": 1,
      "objective": "How do fracking companies like Pioneer Natural Resources make money?",
      "structure": "Top of Funnel -> Stage 1 Conversion -> Stage 2 Conversion -> Bottom of Funnel -> The Leak",
      "confidence": 0.7,
      "description": "Show progressive filtering through stages to identify where drop-off occurs"
    }
  ],
  "imagePathAlt": null,
  "thumbSrc": null,
  "thumbSrcAlt": null,
  "locked": true
}