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February 7, 2013
08:39 EDTPXDPioneer Natural reports 2012 added proved reserves and finding costs
Pioneer Natural added proved reserves totaling 161 MMBOE during 2012 from discoveries, extensions, improved recovery and technical revisions of previous reserve estimates. The drillbit finding and development (F&D) cost related to proved reserve additions was $17.72 per BOE. The company recognized negative price revisions of 82 MMBOE during 2012. As of December 31, 2012, all of Pioneer’s proved reserves are in the U.S. and 58% are classified as PD. Approximately 45% of the company’s proved reserves are oil, 21% are NGLs and 34% are gas.
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