Pioneer Natural Resources (PXD) announced after the close Tuesday that Mabee K #1H well, its first horizontal Wolfcamp Shale well in Martin County, Texas, had an initial 24-hour peak natural flow rate of 1,572 barrels oil equivalent per day (BOEPD) with 77% oil content.
Pioneer Natural Resources gapped open sharply higher Wednesday and is now up 6.13 at $145.10. The stock has been gaining ground for the past month and has set a new high for the year.
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Business News
June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.