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.

Did You Like this Article? Get All the Energy Industry News Delivered to Your Inbox

Subscribe to an email newsletter today at no cost and receive the latest news and information.

 Subscribe Now

Whitepapers

Maximizing Operational Excellence

In a recent survey conducted by PennEnergy Research, 70% of surveyed energy industry professional...

Leveraging the Power of Information in the Energy Industry

Information Governance is about more than compliance. It’s about using your information to drive ...

Reduce Engineering Project Complexity

Engineering document management presents unique and complex challenges. A solution based in Enter...

Revolutionizing Asset Management in the Electric Power Industry

With the arrival of the Industrial Internet of Things, data is growing and becoming more accessib...