Pioneer begins production from new Gulf well

Exploration and production independent Pioneer Natural Resources said June 8 that it has begun production from a new gas well at the company’s deepwater Gulf of Mexico Raptor field in the Falcon Corridor, located in the East Breaks area. The Raptor well tested at about 30 million cubic feet of natural gas per day, Pioneer said, adding that system pressure will limit the incremental production impact. But the new Raptor well is expected to extend the productive life of the Falcon Corridor system and generate a return on investment in excess of 100 percent, the company said.Pioneer holds a 100 percent interest and operates the three fields which are tied into the Falcon facilities. Over the remainder of 2005, Pioneer said it plans to drill and operate two additional wells in the deepwater U.S. Gulf of Mexico.

They are the Clipper prospect, an amplitude play located in the Green Canyon area in which Pioneer has a 55 percent interest, is currently drilling. The Paladin prospect, a sub-salt well located in the Garden Banks area in which Pioneer expects to own about a 40 percent interest, is expected to spud during the third quarter.

The company said it also plans to drill three to four wells on the Gulf’s continental shelf before year-end.

—Ray Tyson