Pioneer Natural Resources Company (NYSE:PXD) today announced the Company signed a joint venture agreement with a wholly-owned U.S. subsidiary of Reliance Industries Limited . Under the agreement, Pioneer will sell a 45% interest in approximately 212,000 net acres leased by the Company in the highly prospective Eagle Ford Shale play for a total price of $1.15 billion. Reliance will pay $266 million in cash to Pioneer at closing and will pay an additional $879 million to carry Pioneer’s share of future drilling costs . Reliance will also participate with Pioneer in the development of midstream assets in the Eagle Ford Shale as a 49.9% partner.
http://www.ril.com/
Reliance est la plus grosse compagnie Indienne . ( conglomérat )
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