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Pioneer Natural Resources to Present at IPAA Oil & Gas Investment Symposium

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By Business Wirevia The Motley Fool

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Pioneer Natural Resources to Present at IPAA Oil & Gas Investment Symposium

DALLAS–(BUSINESS WIRE)– Pioneer Natural Resources Company (NYSE: PXD) today announced that Scott Sheffield, Chairman & Chief Executive Officer, will present at The Independent Petroleum Association of America (IPAA) Oil & Gas Investment Symposium on Tuesday, April 16 at 12:05 p.m. Eastern.

Any interested person may listen to the live presentation and view the presentation slides during the conference, or hear an archived version afterwards, by logging on to Pioneer’s website at www.pxd.com, selecting ‘Investors,’ and then selecting ‘Investor Presentations.’

Pioneer is a large independent oil and gas exploration and production company, headquartered in Dallas, Texas, with operations in the United States. For more information, visit Pioneer’s website at www.pxd.com.

Pioneer Natural Resources
Investors-
Frank Hopkins, 972-969-4065
or
Josh Jones, 972-969-5822
or
Media and Public Affairs-
Susan Spratlen, 972-969-4018
or
Suzanne Hicks, 972-969-4020

KEYWORDS:   United States  North America  Texas

INDUSTRY KEYWORDS:

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Business, Finance, Occupation & Industry

The Biggest Oil Winners in Texas

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By Aimee Duffy, The Motley Fool

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At the end of 2012, oil production in the state of Texas had reached a level not seen since the late 1990s. The state was cranking out more than 2.2 million barrels per day in December, accounting for roughly 31% of all U.S. oil production. This resurgence can present an opportunity for investors, and with that in mind today we will take a look at the five top producers in the great state of Texas.

The list
The most important thing about the 2012 list is that it did not look the same in 2011. The emergence of the Eagle Ford Shale in East Texas, and the application of horizontal drilling and hydraulic fracturing in certain segments of the Permian Basin has caused some changes:

Company

Avg. Daily
Production

Annual
Production

% State

Occidental Petroleum

116,911

42.7 M

8.0%

EOG Resources

109,776

40.1 M

7.5%

Pioneer Natural
Resources

62,507

22.8 M

4.3%

Apache

57,876

21.1 M

4.0%

Kinder Morgan Energy Partners

51,705

18.9 M

3.5%

Source: Texas Railroad Commission 

In 2011, all of these companies were on the list, but in a different order. Kinder Morgan ranked second then, but almost failed to rank this year, and no one outside of Occidental was posting production numbers over 52,000 barrels per day, let alone 100,000. Things will continue to change, no doubt, so let’s take a closer look at what these companies are up to.

The players
Occidental Petroleum is the top producer in the Permian Basin. The company has mastered the art of using carbon dioxide in tertiary recovery to increase well production by 15%-25% in certain fields. Kinder Morgan, aside from using CO2 to produce oil and natural gas liquids, sources and distributes the gas to other producers in the play. If you’re looking for a diversified operator in the Permian, that’s the company for you.

Apache is another Permian player with the potential to rise up on this list next year. The chart above reflects an annual average number for daily production, but by the end of 2012 Apache was producing 134,123 barrels per day in the Permian. While some of that production was outside of Texas on the New Mexico side, the company has really ramped up its growth in the Texas shale portion of the Permian. 

Pioneer Natural Resources is double dipping, exploiting both the Permian and the Eagle Ford for its benefit. The company is really doing it all right now, as far as drilling goes. It is focused on vertical wells in the Spraberry section of the Permian, horizontal wells in the Wolfcamp region of the same play, and of course horizontal wells in the Eagle Ford. If you include the state’s Barnett Shale, the company plans to spend about $2.4 billion drilling in Texas …read more
Source: FULL ARTICLE at DailyFinance