Pioneer Natural Resources announces sale of Texas acreage for $266 million
DALLAS -- Pioneer Natural Resources Company has announced that it has signed a purchase and sale agreement with an undisclosed buyer to sell its previously-announced acreage package in northeastern Martin County, Texas, for $266 million, subject to normal closing adjustments. The sale is effective Jan. 1, 2017. Current net production is approximately 1,500 boed.
The northeastern Martin County acreage sale, when combined with previously-announced acreage sales in Upton and Andrews counties and ongoing acreage trades, continues to advance the high-grading of Pioneer’s premier acreage position in the Midland Basin.
The sale is expected to close by the end of April 2017.
