Great news for APL. JV brings in another 1.4 billion for drilling in APL gathering area.
Pioneer Natural Resources Co. and Sinochem agreed to jointly develop as many as 86 horizontal wells during 2013, 120 wells in 2014 and 165 wells in 2015.
That should keep things running for a few years.
Great news indeed. Wolfcamp is a monster. Will soon be mentioned with Bakken and Eagleford as a huge American hydrocarbon play.
Also of note, Pioneer has discontinued efforts to sell Barnett assets due to low prices.