Pioneer Natural Resources Company reported the closing of its previously announced acquisition of Carmeuse Industrial Sands (CIS) for approximately $297 million before normal closing adjustments. Pioneer also announced that the name of this U.S. industrial sands business is being changed to Premier Silica LLC ('Premier Silica').

Premier Silica is the number one producer of Hickory frac sand (Brady Brown®) used as proppant for fracture stimulating oil and gas wells in the U.S. Hickory sand is considered to be the highest quality brown sand for fracture stimulation. Premier Silica's sand mine in Brady, Texas, has more than 30 years of proven brown sand reserve life and is the industry's largest resource base for brown sand in the U.S. Pioneer's primary source for its growing brown sand requirements to fracture stimulate wells in the liquids-rich Spraberry vertical, horizontal Wolfcamp Shale and Barnett Shale Combo plays in Texas will continue to be Premier Silica's Brady mine.

Tags: Pioneer Natural Resources Company