Pioneer Natural Resources Company, an independent oil and gas exploration and production company, engages in the exploration and production of oil and gas in the United States. The company sells homogenous oil, natural gas liquid (NGL), and gas units. Permian Basin The Spraberry field encompasses eight counties in west Texas. The field is approximately 150 miles long and 75 miles wide at its widest point. The oil and gas are produced primarily from six formations, the upper and lower Spraberry, the Dean, the Wolfcamp, the Strawn and the Atoka, at depths ranging from 6,700 feet to 11,300 feet. During 2014, the company drilled 454 wells in the Spraberry field and its total acreage position approximates 785,000 gross acres (692,000 net acres). During 2014, the company placed on production 97 horizontal wells in the northern portion of the play, 113 horizontal wells in the southern portion of the play, where the company has its joint venture with Sinochem, and 262 vertical wells. South Texas Eagle Ford Shale The company's drilling activities in the South Texas area during 2014 continued to be primarily focused on development of Pioneer's substantial acreage position in the Eagle Ford Shale play. During 2014, the company also received confirmation from the U.S. Department of Commerce that condensate processed through distillation units, such as those located at various Pioneer's Eagle Ford Shale central gathering plants in South Texas. The company completed 124 horizontal Eagle Ford Shale wells during 2014, with average lateral lengths of 5,719 feet and, on average, 20-stage fracture stimulations. The company placed 50 upper target Eagle Ford Shale wells on production and estimates that approximately 25 percent of the company's acreage is prospective for this interval in the Eagle Ford Shale play. The company is operating two Pioneer-owned fracture stimulation fleets in the play. During 2014, most Eagle Ford Shale wells were drilled utilizing three-well and four-well pads. The company owns a 50.1 percent member interest in EFS Midstream LLC, an entity formed by the company to own and operate gas and liquids gathering, treating and transportation assets in the Eagle Ford Shale play. Raton Basin The Raton Basin properties are located in the southeast portion of Colorado. The company owns approximately 194,000 gross acres (174,000 net acres) in the center of the Raton Basin and produces coal bed methane gas from the coal seams in the Vermejo and Raton formations from approximately 2,300 wells. West Panhandle The West Panhandle properties are located in the panhandle region of Texas. These stable, long-lived reserves are attributable to the Red Cave, Brown Dolomite, Granite Wash and fractured Granite formations at depths approximately 3,500 feet. The company's gas has an average energy content of 1,400 British thermal unit and is produced from approximately 700 wells on approximately 246,000 gross acres (239,000 net acres) covering approximately 375 square miles. The company controls 100 percent of the wells, production equipment, gathering system and the Fain gas processing plant for the field. Reserves As of December 31, 2014, the company's proved reserves included proved undeveloped reserves and proved developed reserves that are behind pipe of 89 million barrels of oil, 42 million barrels of NGLs and 317 billion cubic feet of gas. Customers During 2014, the company's significant purchasers of oil, NGLs and gas were Plains Marketing LP; Occidental Energy Marketing Inc.; Enterprise Products Partners L.P.; and Valero Marketing and Supply Company. History Pioneer Natural Resources Company, a Delaware corporation, was founded in 1997.
pioneer natural resources co
(PXD:New York Consolidated)
5205 North O'Connor Boulevard
Irving, TX 75039
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