Pioneer Natural Resources (PXD) updated the company’s operations in the Eagle Ford Shale of Texas for the first quarter of 2011.
Pioneer Natural Resources is currently operating nine rigs in the play and plans to increase this to twelve rigs by middle of the year. The company will ramp up to 14 rigs in 2012 and 16 rigs in 2013.
Pioneer Natural Resources has two hydraulic fracturing stimulation fleets in the Eagle Ford Shale and plans to add a third fleet by the end of 2011.
Pioneer Natural Resources plans total drilling capital spending of $1.6 billion in 2011, and has allocated $170 million for the Eagle Ford Shale. The balance of the company’s capital spending here is covered by a drilling carry from Reliance Industries.