Pioneer makes deepwater Gulf of Mexico find

By OGJ editors
HOUSTON, Oct. 20 -- Pioneer Natural Resources Co., Dallas, reported a discovery on the Clipper prospect on Green Canyon Block 299 in the deepwater Gulf of Mexico.

Pioneer, which operates the block with a 55% interest, said it couldn't disclose details of the discovery because the block is part of a deepwater Gulf of Mexico divestment program it has begun. The program also includes production from Canyon Express, Devils Tower, and the Falcon Corridor, discoveries under development at Ozona Deep and Thunder Hawk, and 90 exploration blocks.

Pioneer opened the divestment data room during the week of Oct. 17. It expects the deepwater Gulf of Mexico sale to close by yearend.

Pioneer had planned to follow the Clipper drilling with a well in the subsalt Paladin prospect in the deepwater Garden Banks area. It said Hurricanes Katrina and Rita delayed the Paladin drilling, which it now seeks to defer because of the divestment plan.

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