The “Fracklog Trigger”: Why 500,000 Barrels of Shale Crude Could Hit the Market at Any Moment
Tuesday, April 26, 2016 14:27
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from Zero Hedge
Yesterday, when reading through Pioneer’s results we stumbled on something unexpected: not only was the company pumping more than its had previously guided, but announced it was waiting for $50/barrel to reactivate five to ten horizontal drilling rigs. To wit:
- producing 222 thousand barrels oil equivalent per day (MBOEPD), of which 55% was oil; production grew by 7 MBOEPD, or 3%, compared to the fourth quarter of 2015, and was significantly above Pioneer’s first quarter production guidance range of 211 MBOEPD to 216 MBOEPD; oil production grew 10 thousand barrels oil per day during the quarter, or 9%, compared to the fourth quarter;
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Source: http://financialsurvivalnetwork.com/2016/04/230786/
