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News Breaks
January 20, 2014
16:37 EDTPXDPioneer Natural says Q4 production averaged 173 MBOEPD
Pioneer Natural Resources reported Q4 production and the production impact attributable to the previously-announced severe winter weather in Texas. Pioneer’s Q4 production averaged 173 thousand barrels oil equivalent per day. This volume excludes Alaska operations that will be reflected as discontinued operations in Q4. The company estimates that Q4 production was curtailed by approximately 6 MBOEPD. Approximately 5 MBOEPD of this curtailment was related to heavy icing and low temperatures across Pioneer’s leasehold position in the Spraberry/Wolfcamp. The company said, "When the severe weather first occurred in late November, over 50% of Pioneer’s more than 7,000 wells in the Spraberry/Wolfcamp area were shut in. All of the wells that were affected have been returned to production and the Company does not anticipate any adverse effects on future well performance due to the downtime. Drilling and completion operations have returned to normal. This includes Pioneer’s horizontal drilling program that currently has 8 rigs operating in the southern Wolfcamp joint venture area and 9 rigs operating across the Company’s northern acreage. Pioneer expects to have more than 10 rigs operating on its northern acreage by the end of the first quarter. The remaining curtailed production in the fourth quarter was due to facility freeze-ups in Pioneer’s Eagle Ford Shale, Barnett Shale Combo and West Panhandle areas. Operations in these areas have also returned to normal."
News For PXD From The Last 14 Days
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