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Group buys former Armour meatpacking site in Stockyards

The 16.8-acre site of the historic, former Armour meatpacking plant in Fort Worth’s Stockyards has changed hands, and its new owners aren’t saying anything about their plans. Chesapeake Land Development Co., which bought the site

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Hulen Pointe Shopping Center sold

Hulen Pointe Shopping Center, located in southwest Fort Worth on South Hulen Street one mile south of Hulen Mall, has been purchased by Addison-based Bo Avery with TriMarsh Properties for an undisclosed price.

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Dallas-Fort Worth in top five commercial real estate markets in 2015

According to the Emerging Trends in Real Estate 2015 report, just co-published by PwC US and the Urban Land Institute (ULI), Dallas-Fort Worth ranks No. 5, with two other Texas cities, Houston and Austin ranking at No. 1 and 2 respectively. San Francisco ranks No. 3 and Denver No. 4.

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Social House Fort Worth plans to open mid-November

Social House has leased 5,045 square feet at 2801-2873 W Seventh St. in Fort Worth, according to Xceligent Inc.

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Fort Worth temporarily stops issuing new home permits in TCU area

The moratorium will give a committee and the City Council time to review a proposed overlay that will pare the number of permissible unrelated adults living in the same house.

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Pioneer, Sinochem close $1.7B Wolfcamp shale transaction

 

A. Lee Graham
Reporter

Pioneer Natural Resources Co. has closed its previously announced transaction with Sinochem Petroleum USA LLC, a U.S. subsidiary of the Sinochem Group.
The deal sees Dallas-based Pioneer sell 40 percent of its interest in about 207,000 net acres leased by the company in the Wolfcamp Shale play in West Texas for $1.7 billion.
At closing, Sinochem paid to Pioneer $631 million in cash, of which $522 million was the up-front portion of the transaction price, with $109 million representing Sinochem’s 40 percent share of net expenditures in the joint interest area.
Sinochem will pay the remaining $1.2 billion by carrying 75 percent of Pioneer’s share of future drilling and facilities costs until the drilling carry is fully utilized. Production from the joint interest area is approaching 10,000 barrels oil equivalent per day, and Sinochem will commence receiving its share effective immediately.
Sinochem is acquiring 82,800 net acres of Pioneer’s leasehold, with Pioneer retaining 60 percent of its interest in the Wolfcamp and deeper horizons, and Sinochem receiving 40 percent of Pioneer’s interest. Pioneer will continue serving as operator and will conduct all leasing, drilling, operations and marketing activities in the joint interest area.
The joint interest area spans certain portions of Upton, Reagan, Irion, Crockett and Tom Green counties.
Pioneer Natural Resources Co. is an independent oil and gas exploration and production company. More information is available at www.pxd.com.
Sinochem is a Chinese conglomerate whose core businesses comprise energy, agriculture, chemicals, real estate and financial services. More information is available at www.Sinochem.com.
 

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