NEWS BULLETIN

May 27, 2004 --- Vol. 10, No. 51May 2004

Pioneer looking to build Alaska drilling portfolio

Pioneer Natural Resources Alaska President Ken Sheffield told members of the Alaska Support Industry Alliance May 27 that Alaska is one of four key exploration hot spots for parent Pioneer Natural Resources. The Gulf of Mexico, particularly the deepwater Gulf, North Africa and West Africa are the other three targets for the Irving, Texas-based independent.

In Alaska, Pioneer hopes to build a “portfolio” of drilling prospects.

“We’re not just looking to drill one to two wells per year,” Sheffield said, saying it was more economic to drill several every year.

The company currently has four North Slope prospects it has either drilled or hopes to drill, including Gwydr Bay, north of the ConocoPhillips-operated Kuparuk field; Caribou, which is “north of Point McIntyre on trend with (BP’s) Northstar” (unit); the Oooguruk unit, which Pioneer successfully drilled the winter before last and is “targeting sanction” in the fourth quarter; and Storms, south of Prudhoe Bay.

Sheffield said Pioneer expected to shoot 3-D seismic at Storms next winter.

Pioneer on track to open permanent Alaska office, to employ 15

Pioneer Natural Resources said Nov. 19 it would open a permanent office in Anchorage, Alaska, by the middle of 2004 and the company is in the process of doing just that.

According to Ken Sheffield, president of subsidiary Pioneer Natural Resources Alaska, the company has leased one-half of the sixth floor of the ConocoPhillips building in downtown Anchorage. Sheffield spoke at an Alliance breakfast in Anchorage on May 27.

The space is in the process of being remodeled and by August will have a staff of 15, including Sheffield; Pat Foley, manager of land, commercial and regulatory affairs; Mike Dunn, manager of engineering and development; Don Bryson, manager of exploration; as well as support staff that includes two engineers and five geoscientists.


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