Pioneer Natural Resources Company, an independent oil and gas exploration and production company, engages in the exploration and production of oil and gas in the United States. The company sells homogenous oil, natural gas liquid (NGL), and gas units. Permian Basin Spraberry field: The Spraberry field encompasses eight counties in west Texas. The field is approximately 150 miles long and 75 miles wide at its widest point. The oil and gas are produced primarily from six formations, the upper and lower Spraberry, the Dean, the Wolfcamp, the Strawn and the Atoka, at depths ranging from 6,700 feet to 11,300 feet. During 2013, the company drilled 502 wells in the Spraberry field and its total acreage position approximates 823,000 gross acres (717,000 net acres). The company has 29 rigs operating in the Spraberry field, of which 11 are drilling vertical wells and 18 are drilling horizontal wells. Mid-Continent Hugoton field: The Hugoton field in southwest Kansas is a producing gas field in the continental United States. The gas is produced from the Chase and Council Grove formations at depths ranging from 2,700 feet to 3,000 feet. The company's Hugoton properties are located on 268,000 gross acres (235,000 net acres), covering approximately 400 square miles. The company has working interests in approximately 1,200 wells in the Hugoton field, approximately 1,000 of which it operates. The company operates substantially all of the gathering and processing facilities, including the Satanta plant, which processes the production from the Hugoton field. West Panhandle field: The West Panhandle properties are located in the panhandle region of Texas. These long-lived reserves are attributable to the Red Cave, Brown Dolomite, Granite Wash and fractured Granite formations at depths no greater than 3,500 feet. The company's gas has an average energy content of 1,365 BTU (British thermal unit) and is produced from approximately 700 wells on approximately 246,000 gross acres (239,000 net acres) covering approximately 375 square miles. The company controls 100 percent of the wells, production equipment, gathering system and the Fain gas processing plant for the field. Raton Basin The Raton Basin properties are located in the southeast portion of Colorado. The company owns 198,000 gross acres (178,000 net acres) in the center of the Raton Basin and produces CBM (coal bed methane) gas from the coal seams in the Vermejo and Raton formations from approximately 2,300 wells. The company owns the majority of the well servicing and fracture stimulation equipment that it utilizes in the Raton field. South Texas Eagle Ford Shale The company's drilling activities in the South Texas area during 2013 primarily focused on delineation and development of the company's substantial acreage position in the Eagle Ford Shale play. The 2013 drilling program was focused on liquids-rich drilling, with no wells drilled in dry gas acreage. The company completed 132 horizontal Eagle Ford Shale wells during 2013, all of which were successful, with average lateral lengths of 5,300 feet and, on average, 15-stage fracture stimulations. Reserves As of December 31, 2013, the company had proved undeveloped reserves and proved developed reserves of approximately 102.5 million BBLs (MMBBLs) of oil, 41.9 MMBBLs of NGLs, and 328.9 billion cubic feet of gas. Customers During 2013, the company's customers included Plains Marketing LP, Enterprise Products Partners L.P. and Occidental Energy Marketing Inc. History Pioneer Natural Resources Company, a Delaware corporation, was founded in 1997.
pioneer natural resources co
5205 North O'Connor Boulevard
Irving, TX 75039
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