Pioneer Natural Resources Co. (NYSE: PXD) continues to high-grade its Midland Basin acreage with the sale of acreage in northeastern Martin County, Texas.

Pioneer said an undisclosed buyer will acquire the acreage with an average production of about 1,500 barrels of oil equivalent per day for $266 million. The amount of acreage was not disclosed but the company had been evaluating offers for 20,500 net acres in Martin.

The sale of the Martin acreage comes after January agreements to sell 5,600 net acres in Upton and Andrews counties, Texas for $63 million in gross proceeds.

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