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Pioneer Natural Resources to sell Raton Basin assets in Colorado for $79M

The Texas-based oil and gas producer Pioneer Natural Resources Co. agreed to sell all its assets in the Raton Basin in southeastern Colorado to the privately held Evergreen Natural Resources LLC for $79 million.

The assets include all of Pioneer's interests, producing gas wells and associated infrastructure in the basin, with net production that averaged about 84 MMcf/d in the first quarter, 100% of which is natural gas, according to a June 13 news release.

The deal is scheduled to close by the end of July.