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Pioneer Natural Resources Announces $1.7 Billion Horizontal Wolfcamp Shale Transaction with Sinochem
Pioneer Natural Resources Company (NYSE:PXD) (“Pioneer” or “the Company”) today announced that the Company has signed an agreement with Sinochem Petroleum USA LLC, a U.S. subsidiary of the Sinochem Group (“Sinochem”), to sell 40% of Pioneer’s interest in approximately 207,000 net acres leased by the Company (“joint interest area”) in the highly prospective horizontal Wolfcamp Shale play in the southern portion of the Spraberry Trend Area Field for a total price of $1.7 billion. At closing, Sinochem will pay $500 million in cash to Pioneer, before normal closing adjustments, and will pay the remaining $1.2 billion by carrying a portion of Pioneer’s share of future drilling and facilities costs (“drilling carry”).

date.png31 Jan 2013 20:19 | comments.png 0 Comments | tags.png n-america pioneer shale sinochem usa [ More ]

Pioneer Natural Resources Announces Closing of Sale of South Africa Business to PetroSA for $52 Million
Pioneer Natural Resources Company (NYSE:PXD) (“Pioneer” or “the Company”) today announced that the Company closed its previously announced sale of its South Africa business to The Petroleum Oil and Gas Corporation of South Africa (SOC) Ltd. (PetroSA) for net consideration of $52 million.

date.png20 Aug 2012 13:37 | comments.png 0 Comments | tags.png africa deals petrosa pioneer south-africa [ More ]
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