SOURCE: Industrial Info Resources

Industrial Info Resources

March 06, 2012 06:55 ET

Pioneer Natural Resources Picks Up Major Brown Sand Resource in Acquisition of Carmeuse Industrial Sands, an Industrial Info News Alert

SUGAR LAND, TX--(Marketwire - Mar 6, 2012) - Researched by Industrial Info Resources (Sugar Land, Texas) -- Pioneer Natural Resources (NYSE:PXD) (Dallas, Texas), a leading independent oil and gas exploration and production company, announced that it is acquiring Carmeuse Industrial Sands, a subsidiary of Carmeuse Holding S.A. (Luxemburg), for about $297 million. A major component of the deal was Carmeuse's sand mine in Brady, Texas, which has a sales capacity of 1 million tons per year, which could be doubled to further support Pioneer's drilling activity. The acquisition is expected to be completed late in the first quarter or early in the second quarter of 2012.

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