Pioneer Natural Resources Co. announced plans to reduce capital spending on Tuesday.
The Irving-based company will reduce its drilling, completion and facilities capital budget by about 45 percent, along with its budgeted water infrastructure spending, amid an environment that includes lower oil prices and “global macroeconomic uncertainty.” according to a news release.
The oil and gas company will “take immediate action” and also will reduce its operated rig count by half from the 22 it currently…
