Pioneer Natural Resources (PXD) is looking to sell its properties in the Barnett Shale as the company looks to focus capital on higher return projects. These include the Spraberry, Wolfcamp Shale and the Eagle Ford Shale.
Pioneer Natural Resources has 155,000 gross acres and estimates that about 67% is in the Barnett Shale combo play, which typically produces a higher liquid hydrocarbon content. The company reported current production from these properties of 7,000 barrels oil equivalent per day, with a 45% natural gas content.
Pioneer Natural Resources expects to complete the divestment process by the first quarter of 2013.