Pioneer Reaches Record North America Gas Production
Pioneer Natural Resources reports that with the addition of production from the Falcon field, the second of five significant projects Pioneer plans to bring on stream through early 2004, it has set a new company record for North America gas production. Canyon Express, a deepwater Gulf of Mexico gas development, was the first project to start up with initial production in the third quarter of 2002. Sable, an oil development offshore South Africa, is expected to begin producing during the second quarter of 2003. Harrier, a Falcon satellite, and Devils Tower, a deepwater Gulf of Mexico oil and gas development, are expected to follow in early 2004.
Scott D. Sheffield, Chairman and CEO, stated, "Our daily North America gas production, including our 100% working interest in Falcon, has reached 560 million cubic feet per day, a record for Pioneer. With three additional projects to bring on over the next ten months, we expect that our worldwide daily production will be up approximately 80% from where we started in the second quarter of last year before Canyon Express was added, and our U.S. gas production is expected to be up approximately 180% over the same period."
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