General News | Deals - Property For Sale
Pioneer to Sell Off Eagle Ford, Other Assets; Become 'Pure-Play' Permian Operator
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Pioneer has announced that it plans to sell off its Eagle Ford, South Texas, Raton and West Panhandle assets in order to become a Permian "pure-play" E&P.
Pioneer expects to open data rooms for the planned divestitures later in the first quarter of 2018.
Eagle Ford Asset
- 70,000 net acres (all HBP)
- Net production of ~27 MBOEPD during the fourth quarter of 2017 (33% oil / 33% natural gas / 33% NGLs)
The Eagle Ford assets being sold represent all of Pioneer's 46% working interest in the play, including its producing wells and associated infrastructure. In addition, Pioneer will separately divest its acreage in the Sinor Nest Wilcox field.
Raton Asset
The Raton assets being sold represent all of Pioneer's interests in the field, including all of its producing gas wells and all other associated infrastructure.
Net production from Raton averaged approximately 86 MMcfe/d during the fourth quarter of 2017.
West Panhandle
The West Panhandle properties are located in the panhandle region of Texas. The assets being sold represent all of Pioneer's 100% working interest in the field, including its producing wells and associated infrastructure.
Net production from this asset averaged approximately 7 MBOEPD during the fourth quarter of 2017, consisting of oil (20%), NGLs (55%) and gas (25%).
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