DALLAS--(BUSINESS WIRE)--Mar. 15, 2017--
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
View source version on businesswire.com: http://www.businesswire.com/news/home/20170315006361/en/
Source: Pioneer Natural Resources Company
Pioneer Natural Resources
Trey Muir, 972-969-3674
and Public Affairs
Tadd Owens, 972-969-5760