Pioneer Announces Third Discovery on Its Operated Jenein Nord Block in Tunisia and Plans for First Production



    DALLAS, April 2 /CNW/ - Pioneer Natural Resources Company (NYSE:  PXD)
today announced continued success in its development and expansion programs in
Tunisia, including:

    --  The third discovery on the Pioneer-operated Jenein Nord Block

    --  Plans to develop discoveries on Jenein Nord where the first two wells
tested at a combined rate of more than 12,000 barrels of oil equivalent per
day (BOEPD)

    --  A successful appraisal well on the Adam Block

    --  Production increases at Adam of more than 60% compared to average
2006 levels

    --  Potential drilling of 9 additional Tunisia wells over the remainder
of 2007

    Pioneer has a substantial acreage position in the Ghadames Basin of
southern Tunisia with an interest in 5 blocks totaling 3.9 million acres.

    During the fourth quarter of 2006 and first quarter of 2007, the Tunisia
drilling program gained significant momentum with four discoveries on two
blocks adjacent to the Adam Concession, where Pioneer has enjoyed drilling
success and increasing production since 2003. Three discoveries were drilled
on the Pioneer-operated Jenein Nord Block (50% interest assuming ETAP
participation) and one discovery was drilled on the Borj El Khadra Block (20%
interest assuming ETAP participation).

    Of the three Jenein Nord discoveries, two have been tested (Waha and
Cherouq) at a combined rate of over 12,000 BOEPD from multiple zones. The
combined tests, which are not necessarily indicative of ultimate production,
resulted in production which was approximately 70% oil and 30% gas and
condensate. The third discovery (El Badr) encountered approximately 35 meters
of oil-bearing sands and is expected to be tested in mid-April.

    Plans to construct oil production facilities on the Jenein Nord Block are
well underway, with first oil production expected during the fourth quarter of
2007. A combined oil production rate forecast is expected to be available for
the block by June after testing is completed on the El Badr discovery and
production facility plans are finalized. Gas and condensate will not be sold
from Jenein Nord until infrastructure is available to transport these products
from the block to the northern part of Tunisia. Pioneer and other producers in
the country are working with the government to evaluate the opportunity to
expand infrastructure to supply gas production from southern Tunisia to
northern markets.

    On the Borj El Khadra Block, a late-2006 exploratory well (Nakhil)
encountered an oil zone with excellent porosity and was tested at rates in
excess of 1,000 barrels of oil per day. Since this discovery was made in a new
reservoir, the well has been shut in for further evaluation and formulation of
an appraisal program.

    In the Adam Concession, Pioneer has participated in 12 wells since 2003
with greater than 90% success. The Company holds a 20% interest in the
Concession in partnership with Eni (Operator), Talisman and ETAP. During
March, the Nour-2 appraisal well was successfully completed and is expected to
be brought on production during the second quarter. Total Adam production is
expected to increase to approximately 25,000 BOEPD, or approximately 4,250
BOEPD net to Pioneer, at that time. This compares to 2006 average production
of approximately 2,600 BOEPD net to Pioneer.

    Pioneer and its partners have acquired approximately 1,200 square
kilometers of 3-D seismic to optimize the drilling programs on the Adam,
Jenein Nord and Borj El Khadra blocks. As a result, Pioneer has identified
over 30 prospects and leads on these blocks, some with resource potential as
large as 25 million barrels oil equivalent. Pioneer's drilling plans for the
remainder of 2007 will be expanded to include up to five additional
exploration wells on the Pioneer-operated Jenein Nord Block, three additional
wells on the Adam Concession and possibly one well on Borj El Khadra.

    "We have built a strong position in the Ghadames Basin of southern
Tunisia and have had significant success to date. I'm excited that Tunisia is
fast becoming a core area for Pioneer, offering strong production and reserve
growth with low finding costs and attractive investment returns," stated Scott
Sheffield, Pioneer's Chairman and CEO.

    Pioneer is a large independent oil and gas exploration and production
company, headquartered in Dallas, Texas, with operations in the United States,
Canada, South Africa and Tunisia. For more information, visit Pioneer's
website at www.pxd.com.

    Except for historical information contained herein, the statements in
this News Release are forward-looking statements that are made pursuant to the
Safe Harbor Provisions of the Private Securities Litigation Reform Act of
1995. Forward-looking statements and the business prospects of Pioneer are
subject to a number of risks and uncertainties that may cause Pioneer's actual
results in future periods to differ materially from the forward-looking
statements. These risks and uncertainties include, among other things,
volatility of oil and gas prices, product supply and demand, the ability to
obtain environmental and other permits and the timing thereof, other
government regulation or action, third party approvals, international
operations and associated international political and economic instability,
the costs and results of drilling and operations, availability of drilling
equipment, Pioneer's ability to implement its business plans or complete its
development projects as scheduled, access to and cost of capital, the
assumptions underlying production forecasts, uncertainties about estimates of
reserves, quality of technical data, environmental and weather risks, acts of
war or terrorism. These and other risks are described in Pioneer's 10-K and
10-Q Reports and other filings with the Securities and Exchange Commission.

    Cautionary Note to U.S. Investors -- The SEC permits oil and gas
companies, in their filings with the SEC, to disclose only proved reserves
that a company has demonstrated by actual production or conclusive formation
tests to be economically and legally producible under existing economic and
operating conditions. Pioneer uses certain terms in this release, such as
"resource potential" or other descriptions of volumes of reserves potentially
recoverable through additional drilling or recovery techniques that the SEC's
guidelines prohibit Pioneer from including in filings with the SEC. These
estimates are by their nature more speculative than estimates of proved
reserves and accordingly are subject to substantially greater risk of being
recovered by Pioneer.




For further information:

For further information: Pioneer Natural Resources Company Investors:
Frank Hopkins or Scott Rice, 972-444-9001 or Media and Public Affairs: Susan
Spratlen, 972-444-9001

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