Tag: Pioneer Natural Resources
Pioneer Natural Resources’ Permian Basin pathway to 1 million boe/d
Hitting 1 million boe/d still far from certain In its Q4 earnings call, Pioneer Natural Resources provide guidance on how it plans to increase its Permian Basin production to one million barrels equivalent per day (70% oil) by 2026, while pledging cash flow neutrality in 2018, according to Wood Mackenzie. Sounds great, but is it doable? In Wood […]
City of Midland, Pioneer partner to use reclaimed wastewater
Pioneer volume-based contract is expected to last for next 20 to 28 years, depending on flow rates MIDLAND, Texas – The City of Midland and Pioneer Natural Resources signed a historic agreement that will upgrade the City’s infrastructure while saving millions of gallons of freshwater. Midland City Council approved a private-public partnership with Pioneer at that will allow […]
Permian Basin News: Pioneer Natural Resources acquires Midland Basin acreage
Pioneer expects to use 3 horizontal rigs to drill the newly added Sale Ranch area locations DALLAS – Pioneer Natural Resources Company announced that they closed the acquisition of approximately 28,000 net acres in the Midland Basin from Devon Energy for $435 million, according to a press release. The acreage is located in Martin, Midland, Upton, Reagan, Glasscock, Andrews, Dawson, Gaines and […]
Pioneer Natural Resources buys Midland Basin acreage, adds rigs for 2016
Pioneer plans to acquire/trade for additional acreage adjacent to leases in Permian Basin Pioneer Natural Resources is buying 28,000 net acres in the Midland Basin from Devon Energy for $435 million and adding five drilling rigs, the company announced Wednesday. The acreage is located in Martin, Midland, Upton, Reagan, Glasscock, Andrews, Dawson, Gaines and Howard counties. Current net […]
Pioneer Natural Resources raises $827 million to fund West Texas development
Capital will fund pending acquisition of properties in Midland Basin, development Spraberry/Wolfcamp acreage Midland, Texas-based Pioneer Natural Resources Company announced Wednesday it has priced an underwritten public offering of 5.3 million shares of its common stock for gross proceeds of $827 million, sending shares down three per cent. Pioneer (NYSE:PXD) has granted the underwriters an option for 30 days to purchase […]
Permian Basin veterans cautiously optimistic about beginning of recovery
Permian Basin leaders like EOG, Pioneer ready to resume drilling, smaller companies more cautious After a year and a half of tough times, the Permian Basin – the world’s most prolific shale basin – is showing signs of life again, but oil patch veterans say producers will be cautious until prices stabilize. Mike Starkey is the […]
Pioneer Natural Resources CEO Scott D. Sheffield to retire
Sheffield helped establish Pioneer as leading producer of onshore unconventional oil/gas resources US shale oil producer Pioneer Natural Resources Co. says that CEO Scott Sheffield will retire at the end of the year and be replaced by Tim Dove, the company’s COO. The retirement draws to a close one of the longest-tenured positions in the oil industry. Sheffield joined Pioneer‘s predecessor company, […]
Pioneer Natural Resources to ramp up Permian Basin drilling at $50/b
Pioneer says it will add 5 to 10 horizontal drilling rigs As global markets slowly recover, Pioneer Natural Resources Company says it plans to begin drilling again when oil prices hit $50 a barrel. The company was reporting its financial and operating results for the quarter ended March 31. “The performance from our Spraberry/Wolfcamp horizontal drilling program continues to […]
Pioneer Natural Resources reports $623 million Q4 loss
Pioneer Natural Resources expects to place approximately 230 horizontal wells producing in Spraberry/Wolfcamp during 2016 Pioneer Natural Resources Company today reported financial and operating results for the quarter ended December 31, 2015, and announced the Company’s capital program for 2016. “The performance from our Spraberry/Wolfcamp horizontal drilling program continues to be outstanding,” said Scott D. Sheffield, chairman and […]
Pioneer Natural Resources reacts to lifting of the crude oil export ban
Europe, Asia and Latin America are potential markets for U.S. crude oil exports The American oil industry and its supporters are applauding the passage of legislation to end the 40-year old crude oil export ban and forecasting significant benefits for consumers and businesses alike. One of the strongest criticisms of the ban, enacted in the […]
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