Dec 10 Oil and gas producer Pioneer Natural
Resources Co and its unit Pioneer Southwest Energy
Partners said their fourth-quarter results could fall
short of their expectations after a severe winter in Texas hurt
Pioneer Natural had said last month that a severe winter
hurt production and drilling operations in the
Spraberry/Wolfcamp, Eagle Ford Shale and Barnett Shale fields.
The company had forecast average production of 179,000 to
184,000 barrels of oil equivalent per day (BOEPD) for the fourth
quarter ending Dec. 31. Pioneer Southwest had forecast average
output of 8,700 to 9,200 BOEPD.
A harsh winter in the western United States has hampered
some oil and gas production and could further crimp output in
the top crude-producing states as temperatures drop further this
Portions of western Texas, home to the oil-and-gas rich
Permian Basin shale field, will experience sleet and snow with
ice forming on Thursday night, according to the National Oceanic
and Atmospheric Administration.
Energen Corp and Apache Corp have also said
weather conditions would hurt production.
"The Spraberry/Wolfcamp area was especially hard hit as
heavy icing and low temperatures resulted in extensive power
outages, facilities freeze-ups, trucking curtailments and
limited access to production and drilling facilities," Pioneer
Natural said in a regulatory filing on Tuesday. ()
The company and its unit said that worsening of weather
conditions since Dec. 4 in the Spraberry/Wolfcamp area did not
cause too much damage.
Pioneer Southwest, formed to buy and own oil and gas assets,
was bought by its parent Pioneer Natural earlier this year.