One-Page Deal Sheet
Pioneer to Acquire PE-Backed DoublePoint for $6.4 Billion
Pioneer Natural Resources Co. DoublePoint Energy LLC
Announced Date
April 01,2021
Close Date
May 04,2021
Transaction Type
Property
Enterprise Value (EV)($MM)
6400
Location
Calculated Metrics( EV/Category)
Region
Permian - Midland Basin
Country
United States
State
Texas
County
Reagan ,Upton ,Glasscock ,Midland ,Martin
Play
Production Production
Production Mix
Calculated Metrics( EV/Category)
$/ Flowing
$/ Acre
Transaction Details: Require Private Equity Subscription
Pioneer Natural Resources said it is acquiring DoublePoint Energy (backed by PE-firms Apollo, Quantum, Magnetar and GSO, a Blackstone Unit) in a deal worth $6.4 billion.
The deal includes $4.5 billion in stock, $1.0 billion in cash and the assumption of $0.9 billion debt.
The deal will see Pioneer + DPE become the largest Midland Basin producer. Oxy is still the largest Permian Basin producer.
Transaction Details Equity - $4.5 billion, Cash - $1.0 billion, Debt - $0.9 billion expected close late 2Q'21 Issuance of 27 million shares97,000 net acres 82,000 boe/d of production according to…
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