One-Page Deal Sheet
Sinochem Seals Deal for Spraberry/Wolfcamp Assets
Sinochem Group Pioneer Natural Resources Co.
Announced Date
January 30,2013
Effective Date
December 01,2012
Close Date
May 31,2013
Transaction Type
JV
Enterprise Value (EV)($MM)
1700
Location
Calculated Metrics( EV/Category)
Region
Permian
Country
United States
State
Texas
County
Reagan ,Upton ,Crockett ,Tom Green
Play
Calculated Metrics( EV/Category)
$/ Acre
Transaction Details: Subscribe to see
Closing Announcement - May 31, 2013
Pioneer Natural Resources Company has closed its previously announced transaction with Sinochem Petroleum USA LLC, a U.S. subsidiary of the Sinochem Group, to sell 40% of Pioneer’s interest in approximately 207,000 net acres leased by the Company in the highly prospective horizontal Wolfcamp Shale play in the southern portion of the Spraberry Trend Area Field for a total price of $1.7 billion.
At closing, Sinochem paid $631 million in cash to Pioneer, of which $522 million was the up-front portion of the transaction price and $109 million was Sinochem’s 40%…
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