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Pioneer Turns on Taps at 'Stackberry' Appraisal Pad in 3Q; Upping Rig Count in 4Q
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Pioneer Natural Resources reported its Q3 2018 results.
Upping Rig Count by Two in 4Q18; Higher Intensity CompletionsPioneer is currently operating 22 horizontal rigs in the Permian Basin; planning to add two rigs in December to support the 2019 plan.
Pioneer placed 69 horizontal wells on production during the third quarter of 2018. The Company completed 44 wells during the third quarter of 2018 that utilized higher intensity completions compared to Version 3.0 wells. These are referred to as Version 3.0+ completions. Of the 44 Version 3.0+ wells completed, 39 wells were placed on production during the third quarter. Results from the 104 Version 3.0+ wells completed in 2017 and 2018 are demonstrating cumulative outperformance of approximately 35% compared to Version 3.0 completions in…
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