GoM fields Tomahawk, Raptor begin production

Pioneer Natural Resources Co. has begun production at its Tomahawk and Raptor fields in the western deepwater Gulf of Mexico. Pioneer developed the two discovery wells as subsea tie-backs to the company's Falcon field facilities. Pioneer established a new record for deepwater Gulf of Mexico operations by completing development of the fields in 10 months.

Pioneer Natural Resources Co. has begun production at its Tomahawk and Raptor fields in the western deepwater Gulf of Mexico. Pioneer developed the two discovery wells as subsea tie-backs to the company's Falcon field facilities. Pioneer established a new record for deepwater Gulf of Mexico operations by completing development of the fields in 10 months.

Pioneer holds a 100% working interest and operates all four fields in the Falcon Corridor. The fields currently produce 350 MMcf/d of gas and 1,000 b/d of condensate. Tomahawk (East Breaks block 623) and Raptor (East Breaks block 668) are 1.4 mi. and 5.5 mi., respectively, from the Falcon subsea manifold in water depths ranging from 3,600 to 3,700 ft. The wells produce into a dual flowline system connecting the Falcon manifold to the Falcon Nest processing platform located 32 mi to the north on the GoM shelf. Falcon Nest is owned and operated by GulfTerra Energy Partners LP.

"In just over three years, Pioneer has discovered and initiated production from four deepwater fields in the Falcon Corridor achieving tremendous returns," said Scott D. Sheffield, Pioneer's chairman and CEO. "The Falcon field began production in March 2003, and the cost of its development was recovered through net cash flow from the field in March 2004. The Harrier field began production in February 2004 and paid out within four months in May 2004. We expect similar results with Tomahawk and Raptor and look forward to testing additional prospects with subsea tie-back potential in our exploration program planned for the second half of this year."

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06/18/04

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