Pioneer Finds Eagle Ford Partner, Signs $1.3 Bln Deal with Reliance

摘要

Pioneer Natural Resources is set to step up development in the Eagle Ford Shale in the wake of a $1.3 billion joint venture agreement inked with Indian giant Reliance Industries Thursday. Reliance will pay $263 million in cash up-front and $1.1 billion in future development costs in exchange for a 45% stake in Pioneer's core acreage in the South Texas gas play.