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Roughneck News

Pioneer Pulling All Rigs Out Of The Eagle Ford Shale


February 11, 2016

Source: My San Antonio

Irving-based Pioneer Natural Resources will pull its drilling rigs out of the Eagle Ford Shale in South Texas.


Oil field workers for Pioneer Natural Resources standing at a well that was being fracked on an oil field south of Midland, Texas. Pioneer still plans to drill in the Permian Basin in West Texas, where it holds more acreage than any other oil company.

It had six drilling rigs running in the Eagle Ford at the end of 2015, and will take that down to zero this quarter.

It will also move two of its pressure pumping fleets from the Eagle Ford to the Permian Basin.

Pioneer reported fourth-quarter earnings this week and said it was cutting its horizontal drilling program in half because of low oil prices.  It will take its horizontal rigs from 24 to 12 by mid-year.

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