Permian Basin heavyweight Pioneer Natural Resources Co. is aiming to land 70% of its natural gas sales outside the Waha hub of West Texas during the second half of this year, and sales may reach 80% by the second half of 2024, management said Wednesday.

CEO Scott Sheffield hosted a conference call to discuss second quarter earnings for the Dallas-based independent, which holds a dominant acreage position in the Permian’s Midland sub-basin.

Sheffield was joined by CFO Neal Shah, who said the boost in out-of-basin gas sales in the second half of 2024 is expected after the 2.5 Bcf/d Matterhorn Express pipeline enters service.

“Pioneer’s strong price realizations benefit from our diversified gas marketing strategy,” Shah said. “This strategy provides access to the...