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Pioneer has shut in production at its West Panhandle field area in North Texas after a fire occurred at its compressor station.
The fire resulted in extensive damage to the facility. As a result, production from the West Panhandle field, which averages approximately 8 MBOEPD, had to be shut in. The Company expects that several idle compressors can be utilized to reinitiate production from the field in late March or early April at approximately 80% to 90% of prior levels.
The Company expects the West Panhandle field production interruption to negatively impact first quarter 2018 production by approximately 2 MBOEPD.
There were no injuries associated with the incident and the fire was contained within the compressor station.
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