Pioneer production drops in third quarter

Pioneer Natural Resources Alaska Inc. produced 4,000 net barrels of oil equivalent per day during the third quarter, down from 7,000 net boe per day in the same period in 2010.

The Texas-based independent produced 128,000 net boe per day across all its properties during the quarter, up from 104,000 net boe per day during the same period last year, an increase largely attributable to increasing Eagle Ford Shale and Permian Basin production.

Pioneer operates the Oooguruk unit in the nearshore waters of the Beaufort Sea.

The company is planning two “key wells” this winter, a “deep test” in the Ivishak and a fracture stimulation operation in the Torok formation, according to CEO Scott Sheffield.

Sheffield said the company would have results no earlier than May.

—Eric Lidji