Pioneer delivers strong quarterly results — but that isn’t what shines the brightest

Permian Basin rigs in 2020, when U.S. crude oil production dropped by 3 million a day as Wall Street pressure forced cuts.
Paul Ratje | Afp | Getty Images

Pioneer Natural Resources (PXD) reported strong second-quarter profits and cash flow after the bell Tuesday, but favorable revisions to its guidance shined the brightest.