Dallas energy company closes $3.1B sale, divests Delaware Basin assets

Dallas-based oil and gas exploration and production company Pioneer Natural Resources closed the $3.1 billion cash sale of its assets in the Delaware Basin on Tuesday to publicly traded Continental Resources.

Oklahoma City-based Continental purchased the divested assets — about 92,000 net acres in the Delaware Basin that produce about 55,000 barrels of oil equivalent per day — through cash on hand, utilization of a credit facility and the issuance of senior notes. Continental (NYSE: CLR) paid…


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