One-Page Deal Sheet
Pioneer Announces Acquisition of Carmeuse Industrial Sands
Pioneer Natural Resources Co. Carmeuse Holding S.A.
Announced Date
March 05,2012
Transaction Type
Corporate
Location
Region
Permian,Gulf Coast - South Texas
Country
United States
State
Texas
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Pioneer Natural Resources Company announced the Company has signed an agreement with a subsidiary of Carmeuse Holding S.A. (Luxemburg) to acquire its U.S. industrial sands business, Carmeuse Industrial Sands (“CIS”), for approximately $297 million, before normal closing adjustments.
CIS is the number one producer of Hickory frac sand (Brady Brown®) used as proppant for fracture stimulating oil and gas wells in the U.S. Hickory sand is considered to be the highest quality brown sand for fracture stimulation. CIS’ sand mine in Brady, Texas, has more than 30 years of proven brown sand reserve…