Corporate Profile for Pioneer Natural Resources, dated March 1, 2002.Business Editors --(BUSINESS WIRE) The following Corporate Profile is available for inclusion in your files. News releases for this client are distributed by Business Wire and also become part of the leading databases and online services, including all of the leading Internet-based services. -0-
Published Date: Mar. 1, 2002
Company Name: Pioneer Natural Resources Company
Address: 5205 N. O'Connor Blvd. Suite 1400
Irving, TX 75039
Main Telephone
Number: 972/444-9001
Internet Home
Page Address
(URL) www.pioneernrc.com
Chief Executive
Officer: Scott Sheffield
Chief Financial
Officer: Tim Dove
Investor Relations
Contact: Susan Spratlen
Business number: 972/969-4018
E-mail address: (optional)
Public Relations
Contact: Susan Spratlen
Business number: 972/969-4018
E-mail address: (optional)
Industry: Oil & Gas Exploration and Production
Trading Symbol/
Exchange: NYSE:PXD TSE:PXD
Market Makers: Van der Moolen
Company description: Pioneer Natural Resources is one of the top ten U.S. independent exploration and production companies. Pioneer's core properties stand out as some of the best in the industry. Since 1997, Pioneer has been busy building an exceptional exploration program while continuing its track record of development success. Recent discoveries in the deepwater Gulf of Mexico Noun 1. Gulf of Mexico - an arm of the Atlantic to the south of the United States and to the east of Mexico Golfo de Mexico Atlantic, Atlantic Ocean - the 2nd largest ocean; separates North and South America on the west from Europe and Africa on the east and South Africa South Africa, Afrikaans Suid-Afrika, officially Republic of South Africa, republic (2005 est. pop. 44,344,000), 471,442 sq mi (1,221,037 sq km), S Africa. are expected to add significant new production in 2002 and 2003. The 2002 exploration program will test 15 new prospects and appraise appraise v. to professionally evaluate the value of property including real estate, jewelry, antique furniture, securities, or in certain cases the loss of value (or cost of replacement) due to damage. three discoveries made in 2001 focused in the Gulf of Mexico and three areas in Africa (S. Africa, Gabon and Tunisia). Pioneer's long-lived assets provide a stable production base. Its extensive inventory of development drilling opportunities in the U.S., Argentina and Canada provide lower-risk opportunity to continually con·tin·u·al adj. 1. Recurring regularly or frequently: the continual need to pay the mortgage. 2. add new production. With total proved reserves proved reserves The quantity of minerals expected to be recoverable under current economic and operating conditions. The amount of proved reserves is important in valuing the stock of a company with significant holdings in natural resources. equivalent to 671 million barrels of oil or 4 trillion One thousand times one billion, which is 1, followed by 12 zeros, or 10 to the 12th power. See space/time. (mathematics) trillion - In Britain, France, and Germany, 10^18 or a million cubed. In the USA and Canada, 10^12. cubic feet of natural gas and with a reserves-to-production ratio of 14 years, Pioneer's production is among the industry's most stable. Contributing to this stability, Pioneer's three domestic core properties -- the Hugoton and West Panhandle panhandle, in geography, a strip of land projecting from the main body of an area and shaped like the handle of a pan, such as the panhandles of West Virginia, Texas, and Alaska. gas fields and the Spraberry oil and natural gas field -- represent 67% of the Company's total reserve base. |
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