Capital Markets | Capital Expenditure | Drilling Program-Rig Count | Capital Expenditure - 2022
Pioneer Natural Resources to Keep Spending, Production Level in 2022
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Pioneer Natural Resources has detailed its 2022 capital plan and guidance.
2022 Plan- Capex: $3.3-3.6 billion - up 2% at the midpoint vs. 2021
- Rigs Running: 22-24
Southern Midland JV Area: 3 rigs- Frac Crews: 2-3 (third to be added in 2H22)
- Well Plans: 475-505 wells TIL - down 8% at the midpoint vs. 2021
- Production: 623-648 MBOEPD - up 3% at the midpoint vs. 2021
Oil Production: 350-365 MBOPD 2022 OutlookThe Company expects its 2022 total capital budget3 to range between $3.3 to $3.6 billion. Pioneer expects its capital program to be fully funded from forecasted 2022 cash flow6 of greater than $10.5 billion.
During 2022, the Company plans to operate an average of 22 to 24 horizontal drilling rigs in the Midland Basin, including a three-rig average program in the southern…
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