Texas-based Pioneer Natural has agreed to sell 100% of its West Panhandle assets, including producing wells and the associated infrastructure, for $201m to an undisclosed buyer. In Q1 2018, the West Panhandle produced approximately 6,000 barrels of oil equivalent per day. The deal is expected to result in a pretax gain of between $155m to $170m, and is set to close in Q3 2018.
Texas-based Pioneer Natural has agreed to sell 100% of its West Panhandle assets, including producing wells and the associated infrastructure, for $201m to an undisclosed buyer. In Q1 2018, the West Panhandle produced 6,000 barrels of oil equivalent per day. The deal is expected to result in a pretax gain of between $155m to $170m, and is set to close in Q3 2018.