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Pioneer Natural shuts production at West Panhandle field after fire

Published 03/13/2018, 04:39 PM
© Reuters.  Pioneer Natural shuts production at West Panhandle field after fire
PXD
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  • Pioneer Natural Resources (NYSE:PXD) says it shut in production in at its West Panhandle field in Texas due to a fire at a compression station that caused extensive damage to the facility.
  • PXD says production from West Panhandle averages ~8K boe/day, and it expects several idle compressors can be utilized to reinitiate production from the field in late March or early April at 80%-90% of prior levels.
  • PXD expects the interruption to hurt Q1 production by ~2K boe/day, but still forecasts total production in the quarter within previously announced guidance of 304K-314K boe/day and Permian Basin production within earlier guidance of 252K-260K boe/day.
  • Now read: Pioneer Natural Resources: Still Priced For Perfection?


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