Baker Botts Reps Reliance In $1.3B Pioneer Gas Deal

Law360, New York (June 24, 2010, 5:19 PM EDT) -- Reliance Industries Ltd., India’s largest private company, said Thursday it was entering into a $1.3 billion joint venture with Pioneer Natural Resources Co. to tap into vast natural gas resources in the South Texas shale formation called Eagle Ford.

Reliance subsidiary Reliance Eagleford Upstream LP will pay more than $1.3 billion to the Dallas-based Pioneer, the companies said, including a $263 million in cash up front and more than $1 billion set aside over four years to carry Pioneer's capital costs associated with the the drilling...
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