By the OGJ Online Staff
HOUSTON, Oct. 24 -- Mariner Energy Inc., Houston, and Pioneer Natural Resources Co., Dallas, approved development plans for Falcon field in the deepwater Gulf of Mexico.
Falcon field is 100 miles east of Corpus Christi, Tex., in 3,400 ft of water on East Breaks blocks 579 and 623.
Natural gas production from the field is scheduled to begin in early 2003, with peak rates expected to reach 175 MMcfd equivalent. Reserves are estimated at 175-240 bcfe.
Mariner operates the field with a 50% working interest; Pioneer has a 45% working interest.
"Falcon is Pioneer's fourth major exploration project being developed for first production in 2002 or 2003, following the previously approved Canyon Express, Devils Tower, and Sable projects," said Scott D. Sheffield, chairman and CEO.
"Compared to our current production rate, Falcon alone is expected to add 10%," he said. "When all four projects are fully on stream during 2003, our daily production is expected to be approximately 45% to 50% above current levels. At estimated peak rates, the combined natural gas production from Falcon, Canyon Express, and Devils Tower represents approximately 75% of our current North America natural gas production."
The partners plan to produce the field through a two-well subsea development tied back 30 miles to a host platform on the shelf. That system can be expanded to accommodate future subsea tiebacks from numerous other prospects owned by Pioneer and Mariner in the surrounding area, officials said.
In August, the partners were the high bidders for 12 deepwater blocks covering 69,120 gross acres concentrated near the Falcon discovery. Pioneer and Mariner will each have a 50% working interest in the blocks when awarded.
Final facility design work and construction-related negotiations with third parties for the Falcon production system are expected to conclude by yearend.