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February 11, 2014
09:38 EDTPXDPioneer Natural sees 2014 production growth 14%-19% from continuing operations
Pioneer Natural is forecasting 2014 annual production growth from continuing operations of 14% to 19% based on planned drilling capital expenditures of $3.0B. The company plans to increase its horizontal rig count from 5 rigs at YE 2013 to 16 rigs by end of Q1 in northern Spraberry/Wolfcamp. Pioneer is targeting 16%-21% compound annual production growth from continuing operations for 2014 to 2016 and expects production to more than double by 2018 compared to 2013. Comments from slides for Q4 earnings conference call.
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