Vinson Reps Pioneer In $866M Tunisia Oil Deal

Law360, New York (January 6, 2011, 4:58 PM EST) -- Austrian energy company OMV AG announced Thursday that it has agreed to acquire the Tunisian oil operations of Dallas-based Pioneer Natural Resources Co. for $866 million.

The two companies said the deal will allow OMV to strengthen its production capabilities in North Africa while providing Pioneer with capital to redeploy to its U.S. operations.

According to the companies, Pioneer's Tunisia operations currently produce the equivalent of 5,700 barrels of oil per day, 90 percent of which is attributable to oil and 10 percent to gas....
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