Pioneer Natural Resources is now deepening its wells to include the Wolfcamp Shale and other, deeper zones that contribute additional oil reserves. Pioneer is also in the early stages of a new horizontal drilling program in the Wolfcamp Shale and has reported very encouraging results to date. Wolfcamp is below the Spraberry field and is getting Bakken like results with per well peak 24 hour production of 2000 barrels per day (although most are still in the 800-1000 bpd range).
EOG’s wells in the Wolfcamp are producing 2,000 barrels a day. Pioneer will drill 80 Wolfcamp wells in 2012 and 2013.
Pioneer is the largest acreage holder, driller and producer in the West Texas Spraberry field.
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