Thursday, January 31, 2013
Sinochem buys stake in Pioneer's Wolfcamp shale play
Pioneer announced that it will sell a stake in their Wolfcamp shale play. The sale is valued at $1.7 billion and includes a 40% interest in 207,000 net acres. The sale equates to $20,531/acre for what we believe to be largely undeveloped acreage. Pioneer has drilled 39 horizontal wells on the acreage to date.
Posted by GF at 2:15 PM