Pioneer Natural Resources Co. agreed to sell about 10,200 net acres in the Eagle Ford Shale to Sundance Energy Australia Ltd. subsidiary Sundance Energy Inc. for $102 million.
The assets are in the counties of Atascosa, LaSalle, Live Oak and McMullen in Texas and are in the western portion of Pioneer's acreage position in the Eagle Ford, according to a March 27 news release. The acreage has a current net production of about 1,100 barrels of oil equivalent per day.
Upon deal closing, Pioneer would have 59,000 net acres remaining in the Eagle Ford, all held by production. As part of its plan to focus its operations in the Permian Basin, the company is proceeding with its previously announced plan to divest the rest of its Eagle Ford assets and expects to open a data room in the week of April 2.