Pioneer entered Alaska in 2002, recognizing the opportunity to bring an independent's mindset of streamlining processes and reducing costs to a landscape previously dominated by major oil companies who left many medium-sized prospects untapped. Pioneer demonstrated the ability to effectively drill in extreme weather conditions, leading to the discovery of the Oooguruk oil field on the North Slope in 2003.
In 2006, after extensive engineering and geologic evaluations, Pioneer approved Oooguruk as its first field development project in Alaska and immediately launched field development activities.
The field is five miles offshore in approximately five feet of water, and during 2006 and 2007, a gravel island was built and outfitted with facilities to accommodate development drilling and field operations.
With first oil production from Oooguruk during the second quarter of 2008, the Company became the first independent to operate a producing field on the North Slope. From exploration wells to first production, Pioneer brought Oooguruk online in less than five years – an unprecedented cycle time for a new field of this type on the North Slope.
Pioneer’s Alaskan drilling program has historically focused on drilling the Kuparuk and Nuiqsut intervals from the island. More recently the Company has also had success drilling into the highly prospective Torok interval. In total, Alaska holds 125 to 150 million barrels of net resource potential for the Company.
Pioneer Natural Resources is a large independent exploration and production company that delivers competitive and sustainable results.
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Pioneer aims to make Alaska a better place to live and work for local residents by giving back to the community in a variety of ways.
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