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Governor Parnell Welcomes Caelus Energy

Company cites More Alaska Production Act as attractive incentive

October 26, 2013, Juneau, Alaska – Governor Sean Parnell today welcomed the news that Caelus Energy has entered into an agreement to purchase Pioneer Natural Resources’ Alaska subsidiary. Caelus, a privately held exploration and production company headquartered in Dallas, is expected to invest $1.5 billion in Alaska over the next six years.

"This announcement is great news for Alaskans and our economy,” Governor Parnell said. “Alaska is no longer an afterthought when companies look at places to invest. We can look forward to continued growth and more companies investing in our state. The More Alaska Production Act is already leading to new jobs and opportunities for Alaskans. Simply put – it’s working.”

James C. Musselman, president of Caelus Energy Alaska cited Alaska’s geologic opportunity and the More Alaska Production Act as reasons for the investment.

“We are attracted to Alaska because of the enormous geologic opportunity as well as the incentives, such as SB 21, that the state has put in place to encourage energy investment by independent oil and gas companies,” Musselman said.

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