Pioneer Hits Record Q4 Eagle Ford Production – 40,000 boe/d

Pioneer's 2014 Capital Budget Set at $545 Million for the Eagle Ford
Pioneer Eagle Ford Production

Pioneer Eagle Ford Production | Click to Enlarge

Pioneer set a record for its fourth-quarter 2013 production in the Eagle Ford Shale, averaging 40,000 boe/d. That’s up ~14% from 35,000 boe/d in the fourth-quarter of 2012.

Forty-one wells were placed on production during the quarter in the Eagle Ford. Full-year 2013 production averaged 38,000 boe/d. That’s an increase of ~35% compared to average production of 28,000 boe/d in 2012.

In the fourth-quarter, the Eagle Ford contributed to Pioneer’s net recoverable resource potential, which increased from more than 8 billion boe to more than 10 billion boe.

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Pioneer Natural Resources Drills Successful Eagle Ford Shale Well

Pioneer Natural Resources (NYSE: PSD) announces successful Eagle Ford Shale well in Live Oak County, TX.  The well produced over 8 mmcfd and 500 barrels per day of condensate.  Pioneer plans four additional wells to assess the potential of its acreage.

“The Sinor #5 well, which is located in Live Oak County, Texas, flowed at an initial rate of approximately 11.3 million cubic feet of natural gas equivalent per day (approximately 8.3 million cubic feet of natural gas per day and 500 barrels of condensate per day) on a 22/64 inch choke with 4,550 pounds per square inch wellhead flowing pressure. The liquids-rich gas contains 1,200 British thermal units per cubic foot.”

“Scott Sheffield, Chairman and CEO, stated, ‘The initial results of the Sinor #5 discovery are very encouraging, especially considering the significant volume of higher-valued condensate and natural gas liquids. This discovery, coupled with the Eagle Ford Shalewells recently completed by others, reinforces our expectation that this shale play will be very prolific.’ “

Read the full news release at