Pioneer unlocks lucrative shale field in Texas

03/10/2014 | Bloomberg Businessweek

Pioneer Natural Resources is adding 11 drilling rigs in Texas' Spraberry field after it was able to unlock lucrative resources in the area. "The technology changed. What we're doing is going back into a large, already discovered oilfield," said Pioneer President and CEO Timothy Dove. Pioneer's announcement goes against the current trend among energy giants such as Royal Dutch Shell, which are divesting onshore shale assets because of unproductive wells.

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