Dallas-based Pioneer Natural Resources Co. (NYSE:PXD) today announced that it has signed an agreement to sell 10,200 net acres in the western portion of the company’s Eagle Ford Shale acreage to Sundance Energy Inc. for $102 million, subject to normal closing adjustments. The acreage is located in Atascosa, LaSalle, Live Oak and McMullen counties, Texas. Current net production is approximately 1,100 barrels of oil equivalent per day.
After the sale closes, which is expected during the second quarter of 2018 and is subject to customary closing conditions, Pioneer’s acreage position in the Eagle Ford Shale will be approximately 59,000 net acres, all of which is held by production. As previously announced, the remaining Eagle Ford Shale acreage position is also being divested. The company announced in February is was selling its non-“Permian Basin acreage and infrastructure to focus on the Permian Basin.