Pioneer Natural Resources is dramatically cutting back its drilling in Texas. The Irving-based company will reduced its capital expenditures by 45 percent to $1.85 billion and operate only 16 drilling rigs in the Permian Basin and Eagle Ford shale oil fields through the first part of the year.
Pioneer Natural Resources is dramatically cutting back its drilling in Texas. The Irving-based company will reduced its capital expenditures by 45 percent to $1.85 billion and operate only 16 drilling rigs in the Permian Basin and Eagle Ford shale oil fields through the first part of the year. Eric Gay AP
Pioneer Natural Resources is dramatically cutting back its drilling in Texas. The Irving-based company will reduced its capital expenditures by 45 percent to $1.85 billion and operate only 16 drilling rigs in the Permian Basin and Eagle Ford shale oil fields through the first part of the year. Eric Gay AP

Pioneer Natural Resources positioned to ‘weather the storm’

February 11, 2015 01:56 PM