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Pioneer Natural Resources Co. Message Board

  • ok_i_will_do_the_math ok_i_will_do_the_math Apr 1, 2012 10:11 AM Flag

    Worth $160-$180

    Saw today where XOM is now the 3rd leading producer in the world on declining production.

    XTO was a mistake fior XOM - too gassy.

    XOM, CVX, others all facing depletion and decline.

    Pioneer's Wolfcamp could be as much as 1 billion barraels of reserves.

    Granite Wash players were stron Friday too.

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    • From last presentation the one billion barrels in the Wolfcamp may be the low estimate. Pioneer says the higher pressures in the wells drilled compared to industry well to the south east probably will lead to higher reserves per well. 50 million to 100 million per section by 400,000 acres would bring you to 31 to 62 billion barrels of oil in place. Recovery of 1 billion would be only 1.5% to 3% of oil in place. It is a tight reservoir but seems like over time the billion barrels on the 140 acre spacing should be low. Even by the 3000 locations and the low end EUR posted of 350 MM barrels per well get to one billion.

      5) Assumes well spacing of 140 acres over 400,000 acres and average industry EUR of 425 MBOE per well
      − 50 - 100 MMBO/section
      1) Reflects average published industry EURs; PXD’s early well results from the Wolfcamp B interval suggest higher potential EURs as PXD’s wells are deeper with higher pressures and lower GORs

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