Pioneer Drilling Curtailed By West Texas Winter Weather

SAN FRANCISCO – 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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