Pioneer Natural discontinuing divesture process for Barnett Shale properties Pioneer Natural has discontinued efforts to divest its properties in the Barnett Shale. Pioneer commenced a divestiture process for these properties in September 2012. Several bids were received in December, but none were representative of the value Pioneer places on these properties. As a result, Pioneer will retain operatorship of this asset. Pioneer holds approximately 155,000 gross acres in the play, of which approximately two-thirds are located in the liquids-rich Barnett Shale Combo play. With the discontinuance of the divestment process, the financial and operating results for these properties will be reclassified back to continuing operations beginning in Q4 2012.
News For PXD From The Last 14 Days
Check below for free stories on PXD the last two weeks.
On The Fly: Analyst Downgrade Summary Today's noteworthy downgrades include: Allianz SE (AZSEY) downgraded to Neutral from Buy at Citigroup... Amicus Therapeutics (FOLD) downgraded to Neutral from Overweight at JPMorgan... Consolidated Edison (ED) downgraded to Underperform from Hold at Jefferies... J.M. Smucker (SJM) downgraded to Neutral from Overweight at JPMorgan... Philip Morris (PM) downgraded to Neutral from Conviction Buy at Goldman... Pioneer Natural (PXD) downgraded to Perform from Outperform at Oppenheimer... Qualcomm (QCOM) downgraded to Outperform from Strong Buy at Raymond James... Quintiles (Q) downgraded to Hold from Buy at Deutsche Bank... Republic Services (RSG) downgraded to Neutral from Buy at Goldman... Children's Place (PLCE) downgraded to Neutral from Buy at Monness Crespi... America's Car-Mart (CRMT) downgraded to Underweight from Equal Weight at Stephens.