 |
Good news!
Good news for all concerned about the leases held by Evergreen Resources!
Pioneer Natural Resources is the company that recently acquired Evergreen, and they are releasing the leases held by Evergreen back to the state. See their press release below.
Click here to see a Frontiersman article on this.
It is a wonderful first step, however, the Pioneer Unit is still leased to Pioneer Natural Resources and there are 98,000 acres between Pt. MacKenzie and Big Lake that are leased to another company called Pioneer Oil from Illinois. We must stay on task and work with the State and the Borough on enforceable, comprehensive regulations for this industry. We have been given this opportunity to continue getting regulations in place and we need to be vigilant and follow through on this.
Stay tuned and stay involved!
NEWS RELEASE
Investor Relations Contacts:
Susan Spratlen or Chris Paulsen (972) 444-9001
Pioneer Releases Alaska Shallow Gas Leases
Dallas, Texas, September 30, 2004 -- Pioneer Natural Resources Company (NYSE:PXD) announced today that it is releasing all existing shallow gas leases in the Matanuska-Susitna Valley acquired as part of its merger with Evergreen Resources, Inc. which closed on September 28, 2004. The released leases cover approximately 235,500 acres and include farm-outs and the Mental Health Trust lease #AK550.185 located east of the Pioneer Unit near the town of Palmer.
As a part of the strategic planning and due diligence associated with the merger, Pioneer decided to relinquish the leases issued under the over-the-counter leasing program and withdraw the exploration license applications made by Evergreen on August 31, 2004. Pioneer believes regulatory certainty is critical to any development program undertaken by the Company.
Scott D. Sheffield, Pioneer's Chairman and CEO said, "We strongly support the State's new gas-only leasing program defined by HB531, and we encourage them to continue the Best Interest Finding process for the Mat-Su."
"We support the efforts of the Mat-Su Borough Assembly to develop a regulatory program that recognizes the State's primacy while at the same time representing the Borough's interests," Mr. Sheffield concluded. "In order to achieve this end, we strongly encourage the MSB Assembly to work closely with the State as they move forward."
In addition to the Mat-Su area leases, Pioneer holds nearly 1,000,000 gross acres on the North Slope and has working partnerships with Conoco-Phillips, Anadarko and others. According to Mr. Sheffield, "We are very enthusiastic about the opportunities weÕre pursuing in Alaska and look forward to a long and prosperous future here."
Pioneer Natural Resources is a large independent oil and gas exploration and production company with operations in the United States, Argentina, Canada, Equatorial Guinea, Gabon, South Africa and Tunisia. PioneerÕs headquarters are in Dallas. For more information, visit Pioneer's website at www.pioneernrc.com.
Pioneer Natural Resources is the company that recently acquired Evergreen, and they are releasing the leases held by Evergreen back to the state. See their press release below.
Click here to see a Frontiersman article on this.
It is a wonderful first step, however, the Pioneer Unit is still leased to Pioneer Natural Resources and there are 98,000 acres between Pt. MacKenzie and Big Lake that are leased to another company called Pioneer Oil from Illinois. We must stay on task and work with the State and the Borough on enforceable, comprehensive regulations for this industry. We have been given this opportunity to continue getting regulations in place and we need to be vigilant and follow through on this.
Stay tuned and stay involved!
NEWS RELEASE
Investor Relations Contacts:
Susan Spratlen or Chris Paulsen (972) 444-9001
Pioneer Releases Alaska Shallow Gas Leases
Dallas, Texas, September 30, 2004 -- Pioneer Natural Resources Company (NYSE:PXD) announced today that it is releasing all existing shallow gas leases in the Matanuska-Susitna Valley acquired as part of its merger with Evergreen Resources, Inc. which closed on September 28, 2004. The released leases cover approximately 235,500 acres and include farm-outs and the Mental Health Trust lease #AK550.185 located east of the Pioneer Unit near the town of Palmer.
As a part of the strategic planning and due diligence associated with the merger, Pioneer decided to relinquish the leases issued under the over-the-counter leasing program and withdraw the exploration license applications made by Evergreen on August 31, 2004. Pioneer believes regulatory certainty is critical to any development program undertaken by the Company.
Scott D. Sheffield, Pioneer's Chairman and CEO said, "We strongly support the State's new gas-only leasing program defined by HB531, and we encourage them to continue the Best Interest Finding process for the Mat-Su."
"We support the efforts of the Mat-Su Borough Assembly to develop a regulatory program that recognizes the State's primacy while at the same time representing the Borough's interests," Mr. Sheffield concluded. "In order to achieve this end, we strongly encourage the MSB Assembly to work closely with the State as they move forward."
In addition to the Mat-Su area leases, Pioneer holds nearly 1,000,000 gross acres on the North Slope and has working partnerships with Conoco-Phillips, Anadarko and others. According to Mr. Sheffield, "We are very enthusiastic about the opportunities weÕre pursuing in Alaska and look forward to a long and prosperous future here."
Pioneer Natural Resources is a large independent oil and gas exploration and production company with operations in the United States, Argentina, Canada, Equatorial Guinea, Gabon, South Africa and Tunisia. PioneerÕs headquarters are in Dallas. For more information, visit Pioneer's website at www.pioneernrc.com.