One of the latest sales of holdings in an oil development in the U.S. involves more than 10,000 acres sold for $102 million by Pioneer Natural Resources Company headquartered in Dallas.
Sundance Energy Inc. is buying the 10,200 net acres located in the western part of Pioneer’s Eagle Ford Shale acreage in south Texas. The acreage is located in Atascosa, LaSalle, Live Oak and McMullen Counties and current net production is nearly 1,100 barrels of oil equivalent per day.
After the closing of the sale, Pioneer’s acreage position in the Eagle Ford Shale will be about 59,000 acres. Pioneer had earlier announced that its remaining acreage position is also being divested.