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Pioneer Natural Resources to increase return targets for oil wells By Reuters

© Reuters. FILE PHOTO: The sun is seen behind a crude oil pump jack in the Permian Basin in Loving County, Texas, U.S., November 22, 2019. REUTERS/Angus Mordant

(Reuters) – U.S. shale oil producer Pioneer Natural Resources (NYSE:) will reshuffle its drilling portfolio next year to target wells with potentially higher returns, a move to boost productivity levels.

The company will run about 24 to 26 drilling rigs, up from between 22 and 24 this year, and up to seven hydraulic fracturing crews, from six currently, executives said on an earnings calls with analysts on Friday.

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