Offshore staff

DALLAS -- Pioneer Natural Resources Co. has reported that the Ofuruma 1X well on Devon Energy operated block OPL 256 in deepwater Nigeria tested multiple objectives on a thrust structure near the northeastern corner of the block, but found only non-commercial oil and gas accumulations. The well is near the Joint Development Zone (JDZ), which is shared by Nigeria and neighboring Sao Tome and Principe.

The company also has reached an agreement to divest its interest in block OPL 320 in deepwater Nigeria. As a result, Pioneer says it will exit exploration activities in Nigeria, consistent with its strategy to focus on lower-risk onshore resource plays, principally in North America.

Pioneer holds 25% interest in the field.

7/16/2007