Pioneer Natural Resources Co., Dallas, (NYSE: PXD) reports operations are underway at its Oooguruk project on the North Slope of Alaska.

Pioneer plans to drill four horizontal laterals in the Nuiqsut formation during the second and third quarters. Two of these laterals will be fracture-stimulated producing wells and two will be water injection wells. The first water injection well was completed and is being produced temporarily to measure the unstimulated productive capability of the Nuiqsut formation.

It was tested at an initial rate of 2,500 barrels of oil per day and has been put on production at a stabilized rate of approximately 1,000 barrels per day.

Sheffield says, “The initial results from this Nuiqsut well are very encouraging, with initial production exceeding our expectations. Pioneer’s net production from Oooguruk was forecast to average 5,000 barrel per day in 2009 and gradually increase to 10,000 to 14,000 barrels per day in 2011 as development drilling continues. Later this year, we will reevaluate our production profile to incorporate higher than expected performance from our Kuparuk wells, early waterflood results and the performance of our planned fracture-stimulated Nuiqsut wells.”

Pioneer operates the Oooguruk project with a 70% working interest, and Eni Petroleum US LLC holds a 30% working interest.

Pioneer has oil and gas operations in the U.S., South Africa and Tunisia.