Pioneer to boost capex spending by 58 percentCEO Scott Sheffield tells analysts capital budget will go to $1.5 billion in 2007 and 2008, up from current $900-$950 million Ray Tyson Petroleum News Houston Correspondent
Pioneer Natural Resources is planning a huge increase in capital spending beginning in 2007 to help pay for various projects, including possible development of oil and gas discoveries. The big independent also easily beat analysts’ expectations for 2005 first-quarter earnings.
Pioneer chief executiv....
[additional news subjects in this story]
Five to seven wells planned in Alaska next winter First quarter profit of 58 cents per share
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