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Pioneer Natural Resources Co
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September 2016 Investor Presentation
| Scott Sheffield | Page 14 of 11 |
November 23, 2024
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"September 2016 Investor Presentation"
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$1,300 $1,140 $1,085 $985 $905 $890 $850 Q4 2014 Q1 2015 Q2 2015 Q3 2015 Q4 2015 Q1 2016 Q2 2016 Continuing to Reduce Spraberry/Wolfcamp Drilling and Completion Costs 14 Drilling & Completion Cost per Perforated Lateral Foot 1 (Reflects only northern Wolfcamp B wells) Cost reductions driven by efficiency gains and cost reduction initiatives 1) Perforated lateral length ~500' shorter than drilled length 2) Version 2.0 completions add ~$0.5 MM per well and Version 3.0 completions add $0.5 MM to $1.0 MM per well to the Version 2.0 completion cost ~8,500' 20 ~8,600' 10 ~8,200' 16 ~8,400' 22 ~8,500' 24 ~8,400' 28 Well Count Lateral Length ~8,500' 33 Costs continued to decline despite more expensive Version 2.0 and Version 3.0 completions ($0.5 MM to $1.5 MM per well) 2 Q2 average well cost by interval: WC B $7.2 MM @ ~8,500' WC A $6.7 MM @ ~9,200' LSS A $6.9 MM @ ~8,900'