Pioneer Natural Resources Company Announces Sale of Northeastern Martin County Acreage for $266 Million
March 15 2017 - 4:10PM
Business Wire
Pioneer Natural Resources Company (NYSE:PXD) (“Pioneer”
or “the Company”) today announced that it has signed a purchase and
sale agreement with an undisclosed buyer to sell its
previously-announced acreage package in northeastern Martin County,
Texas, for $266 million, subject to normal closing adjustments. The
sale is effective January 1, 2017. Current net production is
approximately 1,500 barrels oil equivalent per day.
The northeastern Martin County acreage sale, when combined with
previously-announced acreage sales in Upton and Andrews counties
and ongoing acreage trades, continues to advance the high-grading
of Pioneer’s premier acreage position in the Midland Basin.
The sale is expected to close by the end of April 2017.
Pioneer is a large independent oil and gas exploration and
production company, headquartered in Dallas, Texas, with operations
in the United States. For more information, visit www.pxd.com.
Except for historical information contained herein, the
statements in this news release are forward-looking statements that
are made pursuant to the Safe Harbor Provisions of the Private
Securities Litigation Reform Act of 1995. Forward-looking
statements and the business prospects of Pioneer are subject to a
number of risks and uncertainties that may cause Pioneer's actual
results in future periods to differ materially from the
forward-looking statements, including the risks described in
Pioneer's 10-K and 10-Q Reports and other filings with the U.S.
Securities and Exchange Commission (SEC). Pioneer undertakes no
duty to publicly update these statements except as required by
law.
U.S. investors are urged to consider closely the disclosures in
the Company’s periodic filings with the SEC. Such filings are
available from the Company at 5205 N. O'Connor Blvd., Suite 200,
Irving, Texas 75039, Attention: Investor Relations, and the
Company’s website at www.pxd.com. These filings also can be
obtained from the SEC by calling 1-800-SEC-0330.
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version on businesswire.com: http://www.businesswire.com/news/home/20170315006361/en/
Pioneer Natural ResourcesInvestorsFrank Hopkins,
972-969-4065orTrey Muir, 972-969-3674orMedia and Public
AffairsTadd Owens, 972-969-5760orRobert Bobo, 972-969-4020
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