Pioneer High Bidder on 21 Blocks in GOM Sale 180

Pioneer Natural Resources Company provided a summary of their results in OCS Lease Sale 180 covering tracts offered in the Western Gulf of Mexico by the Minerals Management Service.

Pioneer participated in the submission of bids on a total of 25 blocks and was the apparent high bidder on 21 blocks. Pioneer's net investment on the apparent high bids would be approximately $6.5 million.

Nine of the apparent high bids are on blocks on the Gulf of Mexico shelf covering approximately 51,840 acres focused on the Company's targeted Deep Miocene gas play offshore Texas. Pioneer would have a 100% working interest and act as operator on these blocks.

The remaining apparent high bids were submitted on twelve Deepwater blocks covering approximately 69,120 gross acres concentrated near the Company's recently announced Falcon discovery. Pioneer has a 50% working interest and would act as operator on three blocks.


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