Pioneer Natural Resources Company (PXD)

[56Chevy]

Pioneer Natural Resources Issues A Direct Challenge To OPEC: We Can Go, Toe To Toe

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)
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