Pioneer Natural Resources Co. (NYSE: PXD) said Oct. 31 it will exit another asset as the Irving, Texas-based company continued toward its goal of becoming a Permian Basin pure-play.
Early this year, Pioneer embarked on a divestiture process for all of its assets outside the Permian, which in some cases had been part of the company’s portfolio for decades. These assets included positions in the Eagle Ford, South Texas, West Panhandle and Rockies regions.
Pioneer’s most recent exit is the sale on Oct. 31 of its position in the Sinor Nest (Lower Wilcox) Field in Live Oak County in South Texas. The company said an undisclosed third party agreed to buy all of its interests in the field for $132 million.