Abu Dhabi National Energy Co. PJSC, Abu Dhabi, UAE, (Abu Dhabi: TAQ) has closed its acquisition of Pioneer Natural Resources Canada Inc., a subsidiary of Pioneer Natural Resources Co., Dallas, (NYSE: PXD) for US$540 million in cash. Pioneer Canada's assets include 266,000 gross developed acres (194,000 net) and 547,000 gross undeveloped acres (488,000 net) in Chincaga Field in northern British Columbia and Alberta and the Horseshoe Canyon coalbed-methane play in south-central Alberta. Production during the third quarter was 8,600 barrels of oil equivalent per day. Proved reserves at year-end 2006 were 31.1 million barrels equivalent (187 million cubic feet of gas equivalent).
Recommended Reading
Utica Oil’s Infinity IPO Values its Play at $48,000 per Boe/d
2025-01-30 - Private-equity-backed Infinity Natural Resources’ IPO pricing on Jan. 30 gives a first look into market valuation for Ohio’s new tight-oil Utica play. Public trading is to begin the morning of Jan. 31.
Buying Time: Continuation Funds Easing Private Equity Exits
2025-01-31 - An emerging option to extend portfolio company deadlines is gaining momentum, eclipsing go-public strategies or M&A.
Artificial Lift Firm Flowco’s Stock Surges 23% in First-Day Trading
2025-01-22 - Shares for artificial lift specialist Flowco Holdings spiked 23% in their first day of trading. Flowco CEO Joe Bob Edwards told Hart Energy that the durability of artificial lift and production optimization stands out in the OFS space.
Utica Oil E&P Infinity Natural Resources’ IPO Gains 7 More Bankers
2024-11-27 - Infinity Natural Resources’ IPO is expected to provide a first-look at the public market’s valuation of the Utica oil play.
Utica Liftoff: Infinity Natural Resources’ Shares Jump 10% in IPO
2025-01-31 - Infinity Natural Resources CEO Zack Arnold told Hart Energy the newly IPO’ed company will stick with Ohio oil, Marcellus Shale gas.
Comments
Add new comment
This conversation is moderated according to Hart Energy community rules. Please read the rules before joining the discussion. If you’re experiencing any technical problems, please contact our customer care team.