Pioneer was adding 2% to $155.37, a 52-week high. Shares have risen 45% this year.
Bank of America Merrill Lynch analysts led by Doug Leggate said in a note published today that Pioneer Natural is drilling new wells in its Texas Permian Basin 900,000 acre property which may yield more oil than the company has forecast. The Irving, Texas- based company began production at a horizontal shale in the northern area of the property earlier this year, moving away from the already developed southern section.
"Management's current guidance assumes average northern Wolfcamp wells yield an EUR
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