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  "documentTitle": "Pioneer Natural Resources (PXD)",
  "authorId": "04_Greenlight_Capital",
  "authorName": "David Einhorn",
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  "presentationDate": "2015-05-04 00:00:00",
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  "notes": "The slide uses a Hyperbole and a Half cartoon to mock the 'bull' narrative as a repetitive, potentially dubious story.",
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      "text": "Bulls counter that well economics are improving over time, and that Pioneer's newer technology and more extensive experience makes any analysis of its historical performance irrelevant.",
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      "text": "Capex per BOE: $15.51",
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      "text": "Bulls counter that well economics are improving over time, and that Pioneer’s newer technology and more extensive experience makes any analysis of its historical performance irrelevant. The future is in horizontal drilling, where its reported Capex per BOE was just $15.51 last year.",
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      "text": "Source: Pioneer capital expenditure per BOE for horizontal drilling is from Pioneer’s report on year-end proved reserves and finding costs available at http://investors.pxd.com/phoenix.zhtml?c=90959&p=irol-newsArticle&ID=2015435. Image: Copyright 2009-2013 by Allie Brosh; from http://hyperboleandahalf.blogspot.com/2011/02/scariest-story.html.",
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