Pioneer Plans to Ramp Up Drilling Next Year

摘要

Pioneer Natural Resources Chief Executive Scott Sheffield said oil prices are recovering more quickly than expected and the company expects to put 15 rigs back to work in the Lower 48 states in 2010. In a dramatic move, the US independent laid down all of its rigs in the Lower 48 earlier this year as low oil and natural gas prices cut into its cash flow and tight credit markets made liquidity hard to come by.