Pioneer Mabee K #1H Well Start-up - Analyst Blog
22 Mai 2013 - 8:40PM
Zacks
Dallas-based Pioneer Natural Resources Co.’s
(PXD) first horizontal Wolfcamp Shale well –Mabee K #1H - in Martin
County, Texas commenced production.
A 27-stage hybrid fracture
stimulation over the well’s perforated lateral length of 6,671 feet
was used to complete the Mabee K #1H. The well had an initial
24-hour peak natural flow rate of 1,572 barrels of oil equivalent
per day (Boe/d), with 77% oil content.
Per the company, the initial
24-hour peak natural flow rate for the Mabee K #1H well is
comparable to the initial 24-hour peak natural flow rate for the DL
Hutt C #1H well in the adjacent Midland County, Texas. The DL Hutt
C #1H was the first well in the horizontal Wolfcamp Shale B
interval that was brought online with an initial 24-hour peak
natural flow rate of 1,693 Boe/d with 75% oil content.
The DL Hutt C #1H was completed
using a 30-stage hybrid fracture stimulation over the well’s
perforated lateral length of 7,380 feet. Upon standardization of
the lateral length of both the wells, it was established that the
the comparable 24-hour peak natural flow rate for the Mabee K #1H
well would have been higher than the DL Hutt C #1H well at 1,739
Boe/d.
Located about 30 miles north of
the DL Hutt C #1H well and 50 miles north of Pioneer’s first two
horizontal Wolfcamp Shale B interval wells in the Giddings area in
Upton County, the Mabee K #1H well reveals the prospect of the
900,000 gross acres that Pioneer holds in the Spraberry/Wolfcamp
leasehold position.
The Spraberry/Wolfcamp play is
estimated to hold a net resource potential of over 4.6 billion
barrels oil equivalent. Currently, Pioneer has seven horizontal
rigs running in the southern part of the play, where it has joint
interest agreement with Sinochem. During the second quarter of
2013, the company intends to boost its horizontal rig count in the
northern part of the play to five rigs from one rig. Further, in
2014, additional rigs are expected to be employed in both the
northern and southern parts of the play.
Pioneer carries a Zacks Rank #3
(Hold). However, there are other stocks in the sector that appear
more rewarding for the next few months. These include the Zacks
Rank #1 (Strong Buy) stocks of Dawson Geophysical
Company (DWSN), InterOil Corporation
(IOC) and Exterran Holdings, Inc. (EXH).
DAWSON GEOPHYS (DWSN): Free Stock Analysis Report
EXTERRAN HLDGS (EXH): Free Stock Analysis Report
INTEROIL CORP (IOC): Free Stock Analysis Report
PIONEER NAT RES (PXD): Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
Dawson Geophysical (NASDAQ:DWSN)
Historical Stock Chart
Von Jun 2024 bis Jul 2024
Dawson Geophysical (NASDAQ:DWSN)
Historical Stock Chart
Von Jul 2023 bis Jul 2024