Pioneer is the largest acreage holder and producer in the Spraberry field, with interests in more than 7,000 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 Pioneer continually pursues opportunities to increase our working interest and acreage position through bolt-on acquisitions. We are also actively working 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. In addition to the Spraberry zone, which has traditionally been the target of Pioneer's vertical wells, Pioneer is now deepening its wells to include the Wolfcamp Shale, Strawn, Atoka and Mississippian to increase ultimate oil and gas recoveries.
Spraberry production is 70% oil and represents approximately 40% of Pioneer’s current production and approximately 55% of total proved reserves. With a multi-year drilling inventory of more than 23,000 locations, this cornerstone asset provides substantial opportunity to deliver predictable production growth for years to come.
Pioneer Natural Resources is a large independent exploration and production company that delivers competitive and sustainable results.
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Pioneer aims to make the Permian Basin a better place to live and work for local residents by giving back to the community in a variety of ways.
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