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With lower price tag, Pioneer again looking to sell Eagle Ford assets

Pioneer Natural Resources Co. is seeking buyers for its Eagle Ford assets, report Matthew Monks and Dinesh Nair for Bloomberg.

Citigroup Inc. and Tudor Pickering Holt & Co. are working with Pioneer to find buyers for the oil and gas operations in South Texas. Pioneer is looking to sell its assets for anywhere from $4 billion to $4.5 billion.

Related: Pioneer Natural Resources sells Barnett Shale holdings

The Eagle Ford shale play is one of the strongest producers of oil and gas in the nation, but Pioneer has yet to identify a potential buyer. This is the company’s second attempt to do so this year, forcing a lower price tag on the assets.

The business move is another in a continued trend of divestment amongst oil and gas companies. Many companies are selling off assets and are exchanging diversified portfolios for specialized operations in their most lucrative or promising areas.

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