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Sunday, December 04, 2016 8:56:55 PM
Nov. 29, 2016 6:24 PM ET
Summary
- Straberry/Wolfcamp Shales in the Permian is the world's second-largest oilfield with a potential for 75 billion barrels of oil equivalent.
- Pioneer Natural Resources is the largest producer in the Straberry/Wolfcamp with a resource potential of over 11 billion barrels of oil equivalent.
- To this add more than 20,000 untapped horizontal drilling locations and you can see why Pioneer's CEO, Scott Sheffield, has challenged OPEC.
- Streamlining and optimization strategies have significantly reduced Pioneer's production costs to make the company competitive in a low price environment.
- This is one of the key companies to watch in the Permian Basin.
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Permian Oil Field
The Permian Oil Field itself is 300 miles long and 250 miles wide. It is the world's second-largest oil resource with a potential of more than 75 billion barrels of oil equivalent in the Spraberry/Wolfcamp shales. The Wolfcamp find has re-ignited oil industry activity in the Permian Basin. And make no mistake, this represents "a new oil order" that is a challenge to Saudi oil dominance.
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http://seekingalpha.com/article/4027117-pioneer-natural-resources-issues-direct-challenge-opec-can-go-toe-toe
Marker:
Pioneer Natural Reso (PXD)
$187.55 down -2.02 (-1.07%)
Volume: 2,278,183
“It is better to set a hundred men to work than to do the work of a hundred men.” ~~(D.L. Moody)
Recent PXD News
- Pioneer Natural Resources Announces First Quarter 2024 Earnings News Release Date • Business Wire • 04/18/2024 08:05:00 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 03/11/2024 08:42:04 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 03/11/2024 08:41:03 PM
- Form 144 - Report of proposed sale of securities • Edgar (US Regulatory) • 03/08/2024 11:44:17 PM
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- Form 144 - Report of proposed sale of securities • Edgar (US Regulatory) • 03/04/2024 11:14:37 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 03/01/2024 09:17:05 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 02/22/2024 09:05:46 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 02/22/2024 09:04:32 PM
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- Form 8-K - Current report • Edgar (US Regulatory) • 02/22/2024 01:20:23 PM
- Pioneer Natural Resources Reports Fourth Quarter and Full Year 2023 Financial and Operating Results • Business Wire • 02/22/2024 01:10:00 PM
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