By increasing its interest and becoming operator in the Cosmopolitan Unit, Pioneer is expanding its inventory of attractive oil projects. Prior to Pioneer's involvement, three wells and a sidetrack were drilled in the Unit, establishing a significant oil column. Pioneer and its co-owners acquired and interpreted a new 3-D seismic survey over the Unit and are evaluating options for further appraisal work to refine the estimate of recoverable reserves.
The 25,000-acre unit is located approximately 120 miles southwest of Anchorage and approximately two miles from the shoreline of the Kenai Peninsula.
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