Based on the Company’s fourth quarter production forecast, Spraberry production is forecasted to grow from an average of 45 MBOEPD in 2011 to 66 MBOEPD to 67 MBOEPD in 2012. This reflects achieving the top end of Pioneer’s original guidance range for 2012.In the liquids-rich Eagle Ford Shale in South Texas, Pioneer expects to drill approximately 125 wells in 2012. The 2012 drilling program continues to focus on liquids-rich drilling, with only 10% of the wells designated to hold strategic dry gas acreage in response to the current low gas price environment. The Company drilled 38 wells in the third quarter and placed 35 wells on production.
Pioneer Natural Resources Reports Third Quarter 2012 Financial And Operating Results
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