Susitna

Pioneer Natural Resources said it has released all of its existing shallow gas leases in the Matanuska-Susitna Valley in Alaska in response to a contentious debate with residential landowners over the leases and to new legislation affecting the area. The leases were part of its merger with Evergreen Resources that closed on Tuesday. The released leases cover 235,500 acres and include farm-outs and the Mental Health Trust lease No. 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 to withdraw the exploration license applications made by Evergreen in August. “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,” said CEO Scott D. Sheffield. “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.” The leases being released were on residential land. Pioneer also holds nearly one million gross acres on the North Slope and has working partnerships with ConocoPhillips, Anadarko and others.