Pioneer Natural Resources Co. (PNR), Dallas, has agreed to sell its interests in Sinor Nest (Lower Wilcox) field in Live Oak County, Tex., for net proceeds of $132 million. The purchaser was undisclosed.
Pioneer Natural Resources Co. (PNR), Dallas, has agreed to sell its interests in Sinor Nest (Lower Wilcox) field in Live Oak County, Tex., for net proceeds of $132 million. The purchaser was undisclosed.
In this year’s second quarter the 2,900 net acres averaged net production of 3,100 boe/d. Included in the sale are all the company’s producing wells and associated systems.
The sale, expected to close in the fourth quarter, is part of PNR's divestiture plan to operate solely in the Permian basin (OGJ Online, July 31, 2018).