Forbes.com: by
With its April 26 announcement that it has an agreement-in-principle for the sale of its last remaining assets in the Eagle Ford Shale, Pioneer Natural Resources is on the verge of fulfilling its objective, announced in February 2018, of attaining a new status as a pure Permian Basin play. Whether intentional or not, the company has also just made itself a more attractive takeover target for bigger companies looking to increase their holdings in the world’s hottest oil field.
A map of Permian acreage owned by each major operator, provided by the folks at industry solutions firm DrillingInfo, can be seen at this link. It shows that Pioneer’s assets are concentrated in the Midland Basin, which makes up the Eastern half of the greater Permian region. While the Midland Basin is not currently considered as attractive as acreage in the Delaware Basin in the Western half of the Permian region, potential suitors will look on Pioneer’s big swath of concentrated acreage with great favor. Read more…