Pioneer Natural Resources Co., Dallas, (NYSE: PXD) plans to acquire an expanded interest in the Raton Basin in Colorado from privately held, Denver-based Petrogulf Corp. for $205 million. The interests are in approximately 30,000 net acres, with the majority of the value from approximately 9,800 net acres immediately south of Pioneer's Sangre de Cristo Unit. Net production is 10 million cubic feet of gas per day. Proved reserves are 95 billion cubic feet and potential reserves are 29 billion cubic feet. The assets include more than 110 potential coalbed-methane drilling areas.
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