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Permian Operator Boosts Rigs by 42%; Ups Proppant Load 70%
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Pioneer Natural Resources reported financial and operating results for the Q3 2016.
Key Points: Increasing horizontal rig count from 12 rigs to 17 rigs (+42%) in the northern Spraberry/Wolfcamp during the second half of 2016; three rigs were added during September and October, as planned, with two additional rigs expected in November expecting 17 rigs to deliver production growth ranging from 13% to 17% in 2017Completions Optimization
Commenced testing further enhanced completion designs (Version 3.0):
Larger proppant concentrations up to 1,700 pounds per foot Larger fluid concentrations up to 50 barrels per foot Tighter cluster spacing down to 15 feet Shorter stage spacing down to 100 feetEnlarge Image
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The cost of this design adds $500 thousand to $1 million per…
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