Pioneer sees big Oooguruk bump - November 10, 2013

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Vol. 18, No. 45

Week of November 10, 2013

Pioneer sees big Oooguruk bump

Pioneer Natural Resources Inc. produced 4,723 net barrels per day in Alaska during the third quarter, a significant increase over recent production results from the company.

The third quarter results from the Oooguruk unit were up 12 percent from the second quarter and 7 percent from the third quarter of 2012, according to the Texas independent.

The jump in production comes from the expanded use of the mechanical diversion fracturing system that Pioneer recently brought to its wells at the nearshore North Slope field, as well as from several successful development wells drilled in recent seasons.

In late October, Pioneer sold its Alaska assets to the private firm Caelus Energy Alaska LLC for $550 million. The sale is expected to close late this year or early next year.

—Eric Lidji

Petroleum News - Phone: 1-907 522-9469
[email protected] --- https://www.petroleumnews.com ---
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Copyright Petroleum Newspapers of Alaska, LLC (Petroleum News)(PNA)©1999-2019 All rights reserved. The content of this article and website may not be copied, replaced, distributed, published, displayed or transferred in any form or by any means except with the prior written permission of Petroleum Newspapers of Alaska, LLC (Petroleum News)(PNA). Copyright infringement is a violation of federal law.