The two A interval wells were placed on production during the third quarter, drilled to depths of 7,483 feet and 7,586 feet, with lateral lengths of 6,902 feet and 6,422 feet. One was successful and had an initial production rate of 585 BOEPD, of which 85% was oil. The other was drilled through a fault due to 3-D seismic not being available at the time the well was drilled. The fracture stimulation was not effective on this well and it had an initial production rate of 156 BOEPD, of which 70% was oil. Two additional A interval wells have been drilled and are awaiting completion. Pioneer has also drilled its first Wolfcamp Lower B interval well which is also awaiting completion.In the Spraberry interval, Pioneer drilled two highly successful horizontal Jo Mill wells with lateral lengths of 2,628 feet and 2,178 feet. Current 24-hour production rates are 554 BOEPD and 308 BOEPD, with oil content greater than 80%. The Company plans drilling additional horizontal Jo Mill wells in the future, likely with significantly longer laterals.
Pioneer Natural Resources Reports Third Quarter 2012 Financial And Operating Results
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts
Every recommendation goes through 3 layers of intense scrutinyquantitative, fundamental and technical analysisto maximize profit potential and minimize risk.
Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.