Pioneer Natural to Close Brady, Texas, Sand Mine in Shift to West Texas Mines
November 15 2018 - 8:02PM
Dow Jones News
By Josh Beckerman
Pioneer Natural Resources Co. (PXD) will close its Brady, Texas,
sand mine and expects to record a related fourth-quarter charge of
$350 million to $400 million.
The company expects to wind down operations during the first
quarter and transition to 100% West Texas sand by May 2019.
Pioneer said "new West Texas sand mines with their low cost of
mining and proximity to our Permian acreage position have provided
us a more cost-effective, long-term source of sand supply."
Write to Josh Beckerman at josh.beckerman@wsj.com
(END) Dow Jones Newswires
November 15, 2018 19:47 ET (00:47 GMT)
Copyright (c) 2018 Dow Jones & Company, Inc.
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