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December 3, 2021updated 27 Apr 2022 12:19pm

Permian Basin (Pioneer Natural Resources Co.) TX Unconventional Oil Field, US

By Carmen

Permian Basin (Pioneer Natural Resources Co.) TX is a producing unconventional oil field located onshore the US and is operated by Pioneer Natural Resources.

Field participation details

The field is owned by Pioneer Natural Resources.


Production from Permian Basin (Pioneer Natural Resources Co.) TX

The Permian Basin (Pioneer Natural Resources Co.) TX unconventional oil field recovered 38.19% of its total recoverable reserves, with peak production in 2021. The peak production was approximately 475.97 thousand bpd of crude oil and condensate, 939 Mmcfd of natural gas and 190.69 thousand bpd of natural gas liquids. Based on economic assumptions, production will continue until the field reaches its economic limit in 2045. The field currently accounts for approximately 3% of the country’s daily output.


Remaining recoverable reserves

The field is expected to recover 1,937 Mmboe, comprised of 1,312.07 Mmbbl of crude oil & condensate, 1,797.73 bcf of natural gas reserves and 325.3 Mmbbl of natural gas liquid reserves. Permian Basin (Pioneer Natural Resources Co.) TX unconventional oil field reserves accounts 2.39% of total remaining reserves of producing unconventional oil fields globally.


About Pioneer Natural Resources

Pioneer Natural Resources Co (Pioneer) is an independent oil and natural gas exploration and production company. It operates essentially in the Permian Basin. In the Permian Basin, the company carries out exploration and production in Spraberry field. To carry out its exploration and production, the company uses its owned fracture stimulation fleets and other field service equipment that facilitate its drilling and production operations, including pulling units, fracture stimulation tanks, blowout preventers, water transport trucks, hot oilers, construction equipment, and fishing tools. It also owns interests in gas processing plants and treating facilities. Pioneer is headquartered in Irving, Texas, the US.

Methodology

Information on the field is sourced from GlobalData’s fields database that provides detailed information on all producing, announced and planned oil and gas fields globally. Not all companies mentioned in the article may be currently existing due to their merger or acquisition or business closure.

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