Well Lateral Length | Top Story | Quarterly / Earnings Reports | First Quarter (1Q) Update | Drilling Activity | Drilling Program-Rig Count
Pioneer's Optimized 3.0+ Completions Pay Off in the Permian; Output Up +25% YOY
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Pioneer has reported its Q1 2018 results.
Highlights:- Q1 2018 production of 312 MBOEPD (up +25% YOY and up +2% from 4Q17)
- Continues Permian Pure-Play Transition: Started the divesture process for the Company's Eagle Ford Shale, South Texas, Raton and West Panhandle assets, making Pioneer a Permian Basin "pure play" after all of the divestitures are completed
Q1 Activity Currently operating 20 horizontal rigs in the Permian Basin Expecting to place 250 to 275 wells on production during 2018 Evaluating the timing of rig additions later in 2018 to support the 2019 plan Midland Completion Optimization Program - Version 3.0+Placed 16 wells on production during the first quarter of 2018 that utilized higher intensity completions compared to Version 3.0 wells.
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