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 with 77% oil content.
Pioneer Natural Resources gapped open sharply higher Wednesday, but traded in a range throughout the session. Shares finished up by 4.56 at $143.53. The stock has been climbing for the past month and set a new high for the year.
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