Pioneer Natural Resources (PXD) disclosed details on its expected production growth and well costs in the Eagle Ford Shale. The company is looking for rapid production growth from here through 2013:
2011 – 12,000 to 15,000 barrels of oil equivalent (BOE) per day.
2012 – 26,000 to 30,000 BOE per day.
2013 – 40,000 to 45,000 BOE per day.
Pioneer Natural Resources estimates that gross well costs will range from $7 million to $8 million per well in the Eagle Ford Shale. The company said that its pretax internal rate of return will range from 70% to 110%, depending on the level of condensate yields.
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