Pioneer output hit by processing downtime

Pioneer output: Met expectations, but lagged top goal due to tight NGL processing capacity

Pioneer Natural Resources said its second quarter production reached its guidance expectations but was hampered by a shutdown at a fractionation facility.

The company said it produced an average of 150,506 barrels of oil equivalent per day in the three months to June, within its expected range of 149,000 boepd and 154,000 boepd.

But production from its Spraberry play in West Texas was whacked by about 2800 boepd due to equipment downtime and sparse capacity for fractionation of natural gas liquids, or NGLs, in the region, the company said.

In addition, one set of plants likewise strapped for production capacity would not process ethane because it now commands too low of a price. That represented…

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