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Wednesday, October 30, 2013 1:44:07 AM
$550 MM. PXD will sell 100% of the equity in its subsidiary,
Pioneer Natural Resources Alaska, Inc, to Caelus Energy
Alaska LLC.
The subsidiary produced an average of 4,000
Boe/d over the first 9 months of 2013. The assets had 44
MMBoe of proved reserves at YE-12. The sale is expected to
result in a noncash loss of ~$350 MM.
I believe this is an attractive transaction that will help PXD fund growth from its significant Permian inventory.
Purely my own opinion. Do your Due Diligence.
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