Pioneer Natural

Company History

In September 2004, Pioneer merged with Evergreen Resources, Inc., creating a new core area in the Rocky Mountains that enhances Pioneer's strong foundation in North America.

Throughout the years Pioneer’s high-quality assets have yielded significant discoveries for the industry. A solid base of operations and continued drive to increase production and cash flow has helped Pioneer become one of the largest operators in the Spraberry/Wolfcamp oil field in West Texas, the gas-rich Raton basin in Southeastern Colorado and the West Panhandle gas field in the Texas Panhandle. It is one of the most active drillers in the South Texas Eagle Ford Shale play.

KEY MILESTONES:

1997

• August: Pioneer formed through the merger of Parker & Parsley Petroleum Company and MESA Inc.
• October: Entered South Africa
• December: Entered Gabon. Acquired Chauvco Resources Ltd.'s assets in Canada and Argentina

1998

• March: Entered Deepwater Gulf of Mexico with interest in MC 305
• May: Successfully appraised Sable field, offshore South Africa
• August: Expanded Deepwater Gulf of Mexico acreage

1999

• March: First Deepwater Gulf of Mexico discovery in Aconcagua
• September: Filed to acquire Parker & Parsley Limited Partnerships

2000

• February: Made Deepwater Gulf of Mexico discovery - Devil's Tower
• March: Had success on first operated Bossier well in East Texas
• June: Had success on Devil's Tower appraisal well
• October: Expanded position in Gulf of Mexico and Canada

2001

• January: Success in Bajo Barda Gonzalez field in Argentina
• April: Made Deepwater Gulf of Mexico discovery - Falcon
• May: Entered Tunisia. Made discovery in Gabon. First gas well discovery in South Africa.
• June: Sanctioned Sable field and Devil’s Tower development
• July: Expanded position in Tunisia. Made discoveries in Stirrup and Oneida on Gulf of Mexico shelf.
• October: Approved Falcon field development
• December: Acquired 42 Parker & Parsley Limited Partnerships

2002

• April: Acquired additional West Panhandle interest from CIG
• June: Acquired interest in BEK block in Tunisia
• July: Discovered Triton field in the Deepwater Gulf of Mexico
• September: Discovered Adam field in Tunisia. Made first production from Aconcagua/Canyon Express.
• October: Entered Alaska and acquired leases on North Slope

2003

• March: First production from Falcon field. Discovered Harrier field in Deepwater Gulf of Mexico.
• August: First production from Sable field in South Africa
• September: Discovered Raptor field in Deepwater Gulf of Mexico

2004

• January: First production from Harrier field
• February: Joined Kosmos in West Africa venture
• June: Expanded into NPR-A in Alaska. Made first production from Tomahawk and Raptor, Falcon satellite fields
• September: Pioneer merged with Evergreen Resources, Inc.
• November: Had success in Hawa field in Tunisia

2005

• June: Initiated drilling at Horseshoe Canyon (CBM) in Canada. Made $177 million acquisition in Permian Basin and South Texas
• August: Acquired interest in Alaska Cosmopolitan - Cook Inlet
• September: Approved South Coast Gas Development offshore South Africa
• December: First production from Triton and Goldfinger, Devil's Tower satellite fields. Began South Coast gas development in offshore South Africa.

2006

• February: Oooguruk field development begins in Alaska
• March: Divested Deepwater Gulf of Mexico assets
• April: Divested Argentine assets

2007

• February: Made Waha and Cherouq discoveries on Jenein Nord, Tunisia
• April: Made discoveries in El Badr on Jenein Nord, Tunisia, and in Steelhead in Canada. Announced plans to form two MLPs.
• May: Made Shaheen discovery on Jenein Nord, Tunisia
• July: Made Farrah discovery on Jenein Nord, Tunisia

2008

• February: Successfully expanded Edwards Trend operations
• June: First Oooguruk production in Alaska

2009

• June: First horizontal well in Eagle Ford Shale completed. Drilled first injection well in Oooguruk
• October: Made significant liquids-rich discovery in Eagle Ford Shale

2010

• February: Expanded integrated services model in the Spraberry field
• May: Drilled Eagle Ford Shale well with highest condensate IP rate to date in the play
• June: Entered into joint venture with India-based Reliance Industries to develop Eagle Ford Shale oil and gas assets and midstream activities

2011

• January: Divested Tunisia subsidiaries
• November: $490 million stock offering

2012

• March: Acquired Carmeuse Industrial Sands and renamed as Premier Silica LLC
• August: Closed the sale of South Africa business to The Petroleum Oil and Gas Corporation of South Africa Ltd.

2013

• January: Signed $1.7 billion agreement with Sinochem Petroleum USA LLC to sell 40 percent of interest in approximately 207,000 net acres leased in horizontal Wolfcamp Shale play
• January: Drilled first Wolfcamp Shale horizontal well (DL Hutt C #1H) in Midland County and completed it in the Wolfcamp B interval
• May: Closed joint venture transaction with Sinochem Petroleum USA LLC
• May: Placed on production first horizontal Wolfcamp Shale well in Martin County (Mabee K #1H) and completed it in the Wolfcamp B interval
• October: Announced sale of Alaska subsidiary
• November: Placed on production first horizontal Wolfcamp Shale well in Andrews County (University 7-43 10H) and completed it in the Wolfcamp D interval with an initial 24-hour peak production rate of 3,605 BOEPD, representing the highest horizontal 24-hour initial production rate for any interval in the Midland Basin to date
• December: Completed merger with Pioneer Southwest Energy Partners L.P.

2014

• January: Formed Pioneer Water Management LLC
• April: Closed sale of Alaska subsidiary
• July: Exported first Eagle Ford Shale condensate cargo
• August: Announced sale of Hugoton and Barnett Shale Assets
• December: Acquired four Parker & Parsley Limited Partnerships