ALASKA

As one of the first independents to operate on the North Slope, Pioneer demonstrated a capacity to work in extreme environments by building ice islands in subzero temperatures and drilling three exploration wells during an abbreviated winter season leading to the discovery of the Oooguruk field. Pioneer also has interest in the Cosmopolitan unit in Alaska's Cook Inlet where the Company plans to acquire a new 3-D seismic survey to evaluate the commerciality of a previous discovery.

To more effectively explore for and develop new fields in Alaska, Pioneer is tackling complex prospects and field development with an emphasis on lowering costs and maximizing recoverable reserves.

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