Pioneer Natural Resources Co., Dallas, has signed an agreement with Sundance Energy Inc. to sell 10,200 net acres in the western portion of its Eagle Ford shale acreage position for $102 million.
The acreage, all held by production, is in Atascosa, LaSalle, Live Oak, and McMullen counties in Texas. Current net production is 1,100 boe/d.
The sale, expected to close in this year’s second quarter, is part of PNR’s plan to divest properties in South Texas, Raton, and West Panhandle field and operate solely in the Permian basin.
Following the sale, PNR will hold 59,000 net Eagle Ford acres, all held by production. A data room to facilitate the sale of the remaining acreage is expected to open next week.
