Transaction Details: 

Deal Closed : May 1, 2017 

Encap-backed PetroLegacy II annouced it was the buyer of Pioneer's Martin County acreage and that the deal was closed.  The company also noted that the acreage total was 20,000 net acres.  Shale Experts Research Group initially estimated that the size was 16-18k net acres.

Deal Annouced : March 15, 2017

Pioneer Natural Resources said it sold its northeastern Martin county, texas acreage to an un-disclosed buyer for $266 million.  The same effective date is 1/1/2017.  The current production on the asset is 1500 boe/d.

Based on price per acre of the previous deals, we believe the company sold between 16-18k net acres.

The amount of acreage sold was not disclosed by the company, however it did say earlier this month that it is evaluating some 20,000 net acres.

This follows on the heals on previously annouced sale of  5,600 net in upton and andrews county, tx for $63 million. 

The sale is expected to close by the end of April 2017.