MIDLAND, Texas —
In a sale that is expected to be one of the largest in the North American oil industry this year, Pioneer Natural Resources Co. announced that it is buying DoublePoint Energy LLC in a deal valued at $6.4 billion, according to Bloomberg.
This is less than three months after it purchased Austin-based oil and gas company, Parsley Energy Inc.
Both DoublePoint and Parsley focus their business on the Permian Basin.
With this sale of “primarily undrilled” land, Pioneer will now have more than 1 million net acres.
For more information on the deal, read the full Bloomberg article hyperlinked above.
