PNR closes sale of Alaska subsidiary

Pioneer Natural Resources Co. (PNR), Dallas, has completed the sale of its subsidiary Natural Resources Alaska Inc. to Caelus Energy Alaska LLC, Dallas, for $300 million. PNR initially reported a sale price of $550 million (OGJ Online, Oct. 25, 2013).

PNR said it will recognize a noncash loss of $30 million associated with the sale when it reports earnings for this year’s first quarter.