Dallas-based Pioneer Natural Resources said Monday in its second-quarter financial report it plans to operate 22-to-24 horizontal drilling rigs in Permian Basin in 2021, including 1 rig in Delaware Basin and 3 rigs in southern Midland Basin joint venture area. Pioneer’s 2021 capital program is expected to place 470-to-510 wells on production with oil output of 351,000-to-366,000 b/d and total production of 605,000-to-631,000 boed. During 2021Q2 Pioneer placed 157 horizontal wells on production with oil output of 363,000 b/d (upper half of guidance) and total production of 629,000 boed (near top end of guidance).
Production of oil in 2021Q3 is forecast to average 380,000-to-395,000 b/d with total production of 660,000-to-685,000 boed. Pioneer’s 2021 budget for drilling, completions and facilities is expected to range from $2.95 billion to $3.25 billion.
Scott D. Sheffield, CEO, said, “Pioneer delivered a strong quarter as we integrated DoublePoint operations into our asset base while continuing to execute one of the most efficient capital programs in the industry. We are witnessing strong oil demand growth as the global macroeconomic environment continues to improve with a corresponding improvement in commodity price.”
Also, Houston-based U.S. Well Services said July 27 it will deploy an all-electric fleet to support Pioneer’s completion operations in Midland Basin in 2021Q4.