A series of draft environmental and socioeconomic reports for the Alaska
LNG Project has been submitted to the Federal Energy Regulatory
Commission (FERC), which is responsible for conducting the environmental
review of the project.
Full Year 2014 Highlights
Delivered record annual Adjusted EBITDA
Reported record crude oil production of 17.1 MMBbl, up 68% from 2013
Increased crude oil production to 32% of total natural gas equivalent production, up from 20% in 2013
Acquired Permian Basin oil and gas properties for an aggregate purchase price of $942 million
Divested non-core, upstream properties for $788 million
Closed the sale of QEP Field Services, including QEP Resources' ownership in QEP Midstream Partners, LP, for approximately $2.5 billion in cash, resulting in a pre-tax gain on sale of approximately $1.8 billion
Pioneer Natural Resources Company (NYSE:PXD) (“Pioneer” or “the
Company”) today announced that the Company added proved reserves
totaling 177 million barrels oil equivalent (MMBOE) during 2014 from
discoveries, extensions and technical revisions of previous estimates
(excludes revisions of previous estimates of 39 MMBOE of proved
undeveloped (PUD) reserves related to vertical drilling locations in the
Spraberry/Wolfcamp area that are no longer expected to be drilled,
acquisitions of 2 MMBOE and 12 MMBOE of positive pricing revisions).
These drillbit proved reserve additions equate to a drillbit reserve
replacement of 239% of Pioneer’s full-year 2014 production of 74 MMBOE,
which includes 5 MMBOE of production associated with assets that were
divested during 2014 (Alaska, Barnett Shale and Hugoton) and production
used for field fuel of 3 MMBOE.
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