Dallas-based Pioneer Natural Resources Co. (NYSE: PXD) has closed the previously announced sale of its Barnett Shale assets in North Texas to an undisclosed private party for cash proceeds of $155 million, subject to normal closing adjustments. The transaction has an effective date of August 1, 2014.
The financial and operating results related to Pioneer’s Barnett Shale activities have been reflected as discontinued operations since the fourth quarter of 2013 when Pioneer announced that it planned to sell these assets. Net production from the Barnett Shale averaged approximately 10,300 barrels oil equivalent per day during the first six months of 2014, consisting of oil, natural gas liquids and gas.
Recommended Reading
TC Energy’s Keystone Back Online After Temporary Service Halt
2024-03-10 - As Canada’s pipeline network runs full, producers are anxious for the Trans Mountain Expansion to come online.
Enbridge Fortifies Dominant Role in Corpus Christi Crude Transport
2024-03-20 - Colin Gruending, Enbridge executive vice president and president for liquids pipelines told Hart Energy the company’s holdings in South Texas are akin to a “catcher’s mitt” for Permian and Haynesville production.
Early Startup of Trans Mountain Pipeline Expansion Surprises Analysts
2024-04-04 - Analysts had expected the Trans Mountain Pipeline expansion to commence operations in June but the company said the system will begin shipping crude on May 1.
Kinder Morgan Sees Need for Another Permian NatGas Pipeline
2024-04-18 - Negative prices, tight capacity and upcoming demand are driving natural gas leaders at Kinder Morgan to think about more takeaway capacity.
Pembina Pipeline Enters Ethane-Supply Agreement, Slow Walks LNG Project
2024-02-26 - Canadian midstream company Pembina Pipeline also said it would hold off on new LNG terminal decision in a fourth quarter earnings call.