Pioneer Natural Resources is preparing to step up drilling activity in the Permian basin after bringing in more than $1 billion from the sale of its Eagle Ford shale midstream system.
“The sale of EFS Midstream will further improve our already strong balance sheet and allow us to strategically redeploy capital to our core, oil-rich Spraberry-Wolfcamp asset in the Permian basin of West Texas, which we have successfully transformed from a vertical play into a world-class horizontal play,” Pioneer chief executive Scott Sheffield said.
In
