Pioneer Drilling Curtailed By West Texas Winter Weather

MarketWatch Pulse

Pioneer Natural Resources Co. said late Tuesday that severe winter weather has curtailed production and drilling operations in West Texas. "At the beginning of January, the Spraberry/Wolfcamp area experienced heavy icing and freezing temperatures that has resulted in extensive power outages, facility freeze-ups, trucking curtailments and limited access to production and drilling facilities," Pioneer said in a statement. "An extensive recovery period is expected, and it is likely to be several weeks before the full impact of this event can be determined." Shares of Pioneer rose 0.3% to $139.83 after hours.

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