Pioneer Natural Resources will boost its 2018 capital spending budget by roughly $450 million to address rising costs and to increase its drilling and well-completion activities, the company said on Wednesday. Pipeline constraints that are pushing down the price of Permian Basin crude could hamper the increase in service costs as companies opt to delay completing some wells, Dove added. Rival independent oil producer EOG Resources last week said it expected service inflation to rise by five to 10 percent next year. …read more
Source:: Yahoo Finance
