Texas News at a Glance: Pioneer Sells Assets, Focuses on Permian

Baker Hughes

Dallas-based Pioneer Natural Resources (NYSE:PXD) has entered into a purchase and sale agreement to sell its Barnett Shale assets in North Texas to an undisclosed private company for $155 million. Net production from the Barnett Shale averaged approximately 10,300 barrels oil equivalent per day during the first six months of this year, consisting of oil, natural gas liquids, and gas.

The transaction was effective as of August 1, and the company expects the transaction to close in September.

“[This sale] will allow us to strategically redeploy capital to our core, oil-related Spraberry/Wolfcamp assets in the Permian Basin of West Texas, where we are successfully transforming the substantial resource potential we delineated in 2013 into strong production growth,” said Scott D. Sheffield, chairman and chief executive officer, PXD.

In related news, Pioneer entered a purchase and sale agreement for its Hugoton field assets in Kansas to Linn Energy LLC (NASDAQ: LINE) for $340 million. Net production from Hugoton averaged approximately 6,600 barrels oil equivalent per day during the first six months of this year, consisting of gas and natural gas liquids.

The transaction has an effective date of July 1, and the company expects the transaction to close in September.

Pipeline
Expo


Texaco Tanker at the Port of Corpus Christi


Oklahoma News at a Glance: Tallgrass Energy Partners Consider Pony Express Acquisition


Shale Power: The Modern Day Industrial Revolution


Maintaining High Security and Pipeline Peace of Mind: Part III


3G Manifold


Regulations Linked To Lack Of Education


Texas News at a Glance: Pioneer Sells Assets, Focuses on Permian


Texas News at a Glance: Wolfcamp Capital Spend Could Exceed Bakken by 2017


Texaco Terminal & Tankers


Louisiana News at a Glance: JV to Construct Pipeline Extension from Cajun-Sibon


Mission Vets Helps Bridge the Gap Between the End of Service and Beginning of Civilian Life


How to Get & Stay #Connected Starting with #Twitter


The U.S. Oil Export Ban. Is Repeal Imminent?


Mexico & North America’s Energy


Louisiana News at a Glance: Vanguard Buys Certain Hunt Oil Assets


Sinclair Oil Refinery


Photographic Artist: ‘Commissions And A Following’ From Locked Gates To New Opportunities: Part III


Third Coast Underwriters


Oilman Cartoon: Cartel E & P/South Texas Drilling Rig Security


Black Jack Energy Services LLC


Oklahoma News at a Glance: Commercial GTL Plant Construction Underway


Oklahoma News at a Glance: ONEOK Partners Invests In SCOOP


Fracking in the Digital Landscape – 2014 Makovsky Report


U.S. DOT Proposes New Rules for Crude Oil Transport


NG Set To Be Leading Fuel for Electric Power Consumption


Louisiana News at a Glance: Workforce Partnership Targets Deep-Water Exploration


The Demonization Of Keystone XL Goes International


Midsouth Technology


Texas News at a Glance: FERC Approves Freeport LNG Export Project


Network & Technology Integration Bridge the Gap for the Oil & Gas Industries


Key Things to Consider When Selling and Marketing to Oilfield Businesses

E-Fuels
Expo