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Stock Market & Financial Investment News

News Breaks
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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September 24, 2014
09:08 EDTPXDPioneer Natural announces closing of Barnett Shale assets sale
Pioneer Natural announced that the company closed the previously announced sale of its Barnett Shale assets in North Texas to an undisclosed private party for cash proceeds of $155M, subject to normal closing adjustments. The transaction has an effective date of August 1. The financial and operating results related to Pioneer’s Barnett Shale activities have been reflected as discontinued operations since 4Q13 when Pioneer announced that it planned to sell these assets. Net production from the Barnett Shale averaged approximately 10,300 barrels oil equivalent per day during the first six months of 2014, consisting of oil, natural gas liquids and gas.

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