Mar 30, 2018
Sundance calls on Eagle Ford divestiture
EAGLE FORD SHALE FORMATION – Irving-based Pioneer Natural Resources is selling part of its Eagle Ford Shale land holdings for $102 million.Denver-based Sundance Energy Inc. will buy the 10,200 acres that are...
EAGLE FORD SHALE FORMATION – Irving-based Pioneer Natural Resources is selling part of its Eagle Ford Shale land holdings for $102 million.
Denver-based Sundance Energy Inc. will buy the 10,200 acres that are valued at roughly $10,000 an acre.
The land is located in Atascosa, La Salle, Live Oak and McMullen counties in the western portion of Pioneer’s Eagle Ford Shale holdings.
Total production from the land being sold by Pioneer is 1,100 barrels a day.
Sundance Energy currently holds nearly 43,000 acres in the formation, according to its website.
The sale is part of Pioneer’s plan to divest its Eagle Ford Shale holdings, which it announced in February 2018.
The company will have 59,000 acres remaining in the Eagle Ford after the deal with Sundance closes.
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