Exploration & Production | Operational Updates
Pioneer Provides Update on Barnett Combo Play 2013 Plans
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Pioneer reported that in the liquids-rich Barnett Shale Combo play, Pioneer has built an 80,000 net acreage position, representing more than 1,000 drilling locations. The Company drilled 9 wells in the first quarter and placed 10 wells on production. Pioneer is operating two rigs in the play and plans to increase to four rigs in 2013.
Production in the first quarter for the Barnett Shale Combo play was 6 MBOEPD, up 7% from the fourth quarter of 2011. The Company expects production to increase from an average of 4 MBOEPD in 2011 to 7 MBOEPD to 9 MBOEPD in 2012. With the expected increase to four rigs in 2013, production is forecasted to grow to 12 MBOEPD to 16 MBOEPD in 2013 and 18 MBOEPD to 23 MBOEPD in 2014. Production is comprised of 60% liquids (oil and natural gas liquids) and 40%…
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