Pioneer closes sale of Barnett shale assets

Pioneer Natural Resources Co.

Pioneer Natural Resources Co. (NYSE:PXD) has closed the sale of its Barnett shale assets in North Texas to an undisclosed private party for cash proceeds of $155 million. The transaction has an effective date of Aug. 1.

The financial and operating results related to Pioneer’s Barnett shale activities have been reflected as discontinued operations since the fourth quarter of 2013 when Pioneer announced that it planned to sell these assets. Net production from the Barnett shale averaged 10,300 barrels oil equivalent per day during the first six months of 2014, consisting of oil, natural gas liquids, and gas.

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