“Although third quarter production was slightly below our guidance range as a result of delays in bringing new wells on production in the Eagle Ford Shale related to increased pad drilling, we expect fourth quarter production to grow significantly as these delayed wells and a substantial number of new pad wells from the Eagle Ford Shale and the Spraberry/Wolfcamp areas are placed on production. We are forecasting 2013 production growth of 14% compared to 2012.”“Based on the strong production results from our initial Wolfcamp B and Wolfcamp A interval wells across our northern Midland Basin acreage, we believe that EURs for these wells will exceed 800 MBOE. We also believe that EURs for our initial Wolfcamp D interval wells will equal or exceed average industry Wolfcamp D results to date. As a result of this strong performance, we expect to increase our rig count in the northern Spraberry/Wolfcamp Shale from 5 rigs currently to 10+ rigs in 2014.”
Pioneer Natural Resources Reports Third Quarter 2013 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
More than 30 investing pros with skin in the game give you actionable insight and investment ideas.