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Permian

Pioneer is the largest producer in the Spraberry field, which covers more than 11,000 square miles. With bolt-on acquisitions and a multi-year inventory of well locations, this cornerstone asset provides substantial opportunity to access predictable production growth.When it comes to solid foundation assets, Pioneer's West Texas Spraberry field, with its long-lived oil and gas reserves, stable production and low maintenance capital cost, consistently delivers steady production growth. Covering nine West Texas counties, the Spraberry field produces sweet crude and gas from formations between 6,700 and 11,000 feet deep. Spraberry is the 5th largest oil field and the 15th largest gas field in the U.S.

Pioneer is the largest acreage holder, driller and producer in the field, with interests in more than 6,500 active wells. We have set the standard for best practices in drilling, completions and operations in the area. We also benefit from processing our own gas through the Midkiff/Benedum gas processing system in which we hold a 27% interest. This resource play covers more than 11,000 square miles, with ever-expanding field boundaries, and we continually pursue opportunities to increase our working interest and acreage position through bolt-on acquisitions. Pioneer is also actively progressing initiatives to capture additional resource potential, including ongoing 40-acre field development, 20-acre downspacing, horizontal drilling, testing deeper zones, evaluating potential from shale/silt intervals and implementing enhanced oil recovery through a 7,000-acre waterflood project.

Permian Operations - SCADA systemSpraberry operations represent approximately 35% of Pioneer’s current production and approximately 50% of total proved reserves. With a multi-year drilling inventory of more than 20,000 locations, Spraberry is expected to continue to deliver solid production growth for years to come.

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