JPMorgan Downgrades Pioneer Natural Resources (PXD) to Neutral
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Double Eagle Announces $6.4 Billion Divestiture in the Midland Basin
April 5, 2021 12:58 PM EDTFORT WORTH, Texas--(BUSINESS WIRE)-- Double Eagle III Midco 2 LLC (the Company or Double Eagle), wholly owned by DoublePoint Energy, LLC (DoublePoint), announced that it has entered into a definitive purchase agreement to sell all leasehold interests, subsidiaries and related assets to Pioneer Natural Resources Company (NYSE: PXD) ("Pioneer"). This transaction is valued at approximately $6.4 billion as of April 1, 2021, comprised of approximately 27.2 million shares of Pioneer common stock, $1 billion of cash and approximately $0.9 billion of debt and liabilities. The transaction was unanimously approved by the Board of Directors of each company and is expected... More
