Pioneer Natural Resources’ Eagle Ford production was up to 37,000 boe/d in the first quarter.
That’s an increase from 35,000 boe/d in the fourth quarter and a 2012 average of 28,000 boe/d.
Pioneer drilled 37 wells in the quarter and brought 35 of those to production. In total, the company expects to drill 130 wells at a cost of $7-8 million each this year. Those wells will be drilled with just 10 rigs compared to 12 in 2012. [Read more…]