Dallas-based Pioneer Natural Resources Co. has agreed to sell all of its Raton Basin assets in southeastern Colorado, including natural gas wells and infrastructure, to Evergreen Natural Resources LLC for $79 million. Net production from the assets averaged 84 MMcf/d (14,000 boe/d) in 1Q2018, almost all natural gas. The transaction is expected to close by the end of July. The sale is expected to result in a pre-tax noncash loss of $65-75 million in 2Q2018.
Dallas-based Matador Resources Co.’s midstream joint venture, San Mateo Midstream LLC, has secured a long-term saltwater disposal agreement with an undisclosed Permian Basin operator working in Eddy County, NM. The agreement is to gather and dispose of saltwater from more than 65 oil and gas wells. A fourth commercial saltwater disposal well in the county is underway with a fifth one scheduled to be drilled later this year. Total saltwater disposal capacity is expected to reach 230,000 barrels/day combined in Eddy County and in Loving County, TX. San Mateo also expects to dispose of more than 200,000 barrels/day of saltwater from the Permian by early 2019.