|
|
News Breaks | | | | January 30, 2013 | | 08:07 EDT |  | PXD | Pioneer Natural to sel 40% of Wolcamp Shale interest to Sinochem for $1.7B
Pioneer Natural has signed an agreement with Sinochem Petroleum USA LLC, a U.S. subsidiary of the Sinochem Group, to sell 40% of Pioneer’s interest in approximately 207,000 net acres leased by the company in the horizontal Wolfcamp Shale play in the southern portion of the Spraberry Trend Area Field for a total price of $1.7B. Sinochem will pay $500M in cash to Pioneer, before normal closing adjustments, and will pay the remaining $1.2B by carrying a portion of Pioneer’s share of future drilling and facilities costs. The transaction is expected to close during Q2. Pioneer will continue as operator. Sinochem has agreed to fund 75% of Pioneer’s portion of drilling and facilities costs after closing until the $1.2B of drilling carry is fully utilized. Pioneer and Sinochem have agreed to a development plan which forecasts the drilling of 86 horizontal Wolfcamp Shale wells during 2013, increasing to 120 wells in 2014 and 165 wells in 2015. | |
|
News For PXD From The Last 14 Days Check below for free stories on PXD the last two weeks. |
|
|
| May 15, 2013 | | 17:36 EDT | | PXD | Paulson gives quarterly update on stakes
 Subscribe for More Information | | | 17:18 EDT | | PXD | BP Capital gives quarterly update on stakes
Subscribe for More Information | | | 07:35 EDT |  | PXD | Credit Suisse to host a symposium
Subscribe for More Information | | | May 7, 2013 | | 18:51 EDT | | PXD | On The Fly: After Hours Movers
UP AFTER EARNINGS: WebMD (WBMD), up 14%... Electronic Arts (EA), up 8.4%... Whole Foods (WFM), up 8.4%. ALSO HIGHER: Pioneer Southwest (PSE), up 19.3% after receiving a buyout offer from Pioneer Natural (PXD)... Anthera Pharmaceuticals (ANTH), up 5.4% after announcing additional data from a phase 2 trial... Herbalife (HLF), up 1.1% after Carl Icahn increased his stake in the company to 16.48%. DOWN AFTER EARNINGS: Rubicon (RBCN), down 16.2%... Symantec (SYMC), down 5.9%... ValueClick (VCLK), down 15.5%. ALSO LOWER: CA Technologies (CA), down 4.9% after reporting earnings, saying it would take $150M charge in FY14... Cobalt (CIE), down 6.7% after filing to sell 50M shares of common stock for holders... 3D Systems (DDD), down 6.9% after filing $500M mixed securities shelf. | | | 16:55 EDT | | PXD | Pioneer Southwest receives buyout offer from Pioneer Natural
Subscribe for More Information | | | 08:11 EDT |  | PXD | Pioneer Natural initiated with a Strong Buy at ISI Group
Subscribe for More Information | | | 07:29 EDT | | PXD | ISI Group to host a conference
ISI Bermuda Conference is being held in Hamilton, Bermuda on May 7-10. | | | May 6, 2013 | | 08:23 EDT |  | PXD | Pioneer Natural price target raised to $225 from $125 at FBR Capital
Subscribe for More Information | |
|
|
|
|
|
|
