…has brought a near-shore oil production unit on line.
Pioneer spokesman Tadd Owens says the first barrel from the Oooguruk facility was sold yesterday. The unit lies northwest of the Kuparuk river, inside the barrier islands of the Beaufort sea. Owens says Pioneer is the first independent to bring new operations on line and they did it quickly — from exploration to production took only 5 years. He says the plan is for 40 wells to be on line within 3 years.
From a Dallas news release:
Pioneer anticipates peak gross production in 2010 of 15,000 to 20,000 barrels of oil per day (BOPD) from approximately 40 development wells (approximately half of the wells will be producing wells and half will be injection wells). These wells are expected to be drilled over the next three years. The gross oil resource potential from these base development wells is as much as 90 million barrels, before expansion opportunities. Field life is expected to be 25 to 30 years.
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