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Reliance and Pioneer Natural Resources Form Eagle Ford Shale Joint Venture

7:20 AM MDT | June 24, 2010 | Deepti Ramesh

Reliance Industries says its Reliance Eagleford Upstream subsidiary has executed definitive agreements to enter into a joint venture with Pioneer Natural Resources (Irving, TX) under which Reliance will acquire a 45% stake in Pioneer’s Eagle Ford Shale acreage position,confirming earlier reports. Pioneer and its current partner in Eagle Ford- Newpek – will transfer 45% of their respective stake in the Eagle Ford to Reliance. Newpek currently owns about 16% non-operated interest in Pioneer’s Eagle Ford Shale acreage. Following the transactions...

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