Reliance has announced the acquisition of a 45% stake in Pioneer Natural Resources' Eagle Ford Shale acreage. The consideration is US$1,315 million: US$263 million to be paid as cash at closing with the balance to be paid as 75% of Pioneer's drilling costs through 2012. Our base case valuation of the acquired interests (excluding cost carry) is US$1 billion. This equates to an Implied Long-term Oil Price of US$80/bbl, or an implied long-term Henry Hub gas price of US$6.75/mcf ...
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Reliance to pay US$1.3 billion for a stake in Pioneer's Eagle Ford acreage PDF - 382.42 KB 7 Pages, 8 Tables, 1 Figures
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Deal insight | Jun 2010
Reliance to pay US$1.3 billion for a stake in Pioneer's Eagle Ford acreage
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