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Pioneer and Sinochem announce Wolfcamp tight oil JV

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01 January 2013

Pioneer and Sinochem announce Wolfcamp tight oil JV

Report summary

Pioneer Natural Resources has agreed to a US$1.7 billion farm-out deal with Sinochem, covering acreage prospective for the Wolfcamp Shale in the Permian. The Chinese conglomerate will pay an initial US$500 million in cash, in addition to funding a US$1.2 billion cost-carry agreement.Sinochem will acquire a 40% stake in 207,000 net acres in the southern Midland Basin. The Wolfcamp is an emerging play in this area. Although Pioneer has only drilled 39 wells to date, the operator has ...

Table of contents

Tables and charts

This report includes 8 images and tables including:

  • Executive summary: Table 1
  • Upstream assets: Table 1
  • Sinochem acquired position; WoodMac modelling assumptions
  • Deal analysis: Table 1
  • Deal analysis: Table 2
  • Oil & gas pricing and assumptions: Table 1
  • Oil & gas pricing and assumptions: Table 2
  • Wood Mackenzie valuation price sensitivity

What's included

This report contains:

  • Document

    Pioneer and Sinochem announce Wolfcamp tight oil JV

    PDF 700.00 KB

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