Dallas – Pioneer Natural Resources Company (“Pioneer”) and Reliance Holding USA, Inc. (“Reliance”) have entered into a purchase and sale agreement with an affiliate of Enterprise Products Partners L.P. (“Enterprise”), to sell their Eagle Ford Shale Midstream (“EFS Midstream”) business for $2.15 billion, subject to regulatory approvals and normal closing adjustments. Pioneer owns 50.1% of EFS Midstream and Reliance owns the remaining 49.9%.
Thompson & Knight advised Reliance in this transaction. The team was led by Arthur J. Wright, Gaye White, and Timothy T. Samson, and included Thaddeus E. Chase, Jr., David W. Cias, Claudia Duncan, Lucas A. LaVoy, Courtney Jamison Roane, Emily Semands, and Kelli C. Sims.
The deal is expected to be completed in the third quarter, pending regulatory approvals and closing conditions.