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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