Tag Archives: Pioneer Natural Resources

US Permian Basin, Canada operating coasts (FT)

Pioneer Natural Resources’ chief executive Scott Sheffield told an audience recently in Houston that technology advancements had lowered the company’s production costs, excluding taxes, to $2.25 a barrel for horizontal completions in the prolific Permian Basin of Texas, low enough to compete with Saudi Arabia — one of the world’s lowest-cost producers. By contrast, operating costs in Canada’s harder to develop oil sands are estimated at $37 a barrel.

Send to Kindle